Meridian Capital Group Represents Acquisition Of Multifamily Property On Westheimer Rd In Houston

The multifamily property located at 13328 Westheimer Rd in Houston was recently involved in a loan transaction. The property consists of 300 units with a total square footage of 280,344.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $38,188,000
• Date: 08/27/2021
• Lender: Limekiln Real Estate Investment
• Landlord: Ian Djuric
• Brokers: Nina Russo & Jonathan Zilber - Meridian Capital Group
• Loan Type: Acquisition
• Loan Terms: Bridge Financing, 80% LTC, 3+1+1 term, 3.4% interest only

The loan amount for this transaction was $38,188,000. The loan provided bridge financing with an 80% loan-to-cost ratio. The loan term was structured as 3+1+1, with the first three years having 3.4% interest-only payments.