Updated Jan 9, 2025
Freddie Mac Provides $43.4M Refinance Loan For 300-Unit Multifamily In Pearland, TX
12501 West Broadway Street
$43,400,000
Units
300
Asset Type
MultiFamily
Closing
Jan 9, 2025
About this deal
AI
The property involved in this transaction is Avenues at Shadow Creek Ranch, a multi-family apartment complex consisting of 300 units. It is located at 12501 West Broadway Street in Pearland, Texas. The loan amount secured for refinancing this asset is $43,400,000, specifically structured as a seven-year, fixed-rate loan.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $43,400,000
- Address: 12501 West Broadway Street
- Market: Pearland
- Lender: Freddie Mac
- Broker: Greg Duvall - NorthMarq
- Loan Type: Refinance
- Loan Terms: seven-year, fixed-rate loan
Greg Duvall, representing NorthMarq, facilitated the refinancing of the property through Freddie Mac. The identity of the borrower has not been disclosed in this transaction.
On the Map
$43,400,000
MultiFamily
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Pearland MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93