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.
Players
Pearland MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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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