Updated Oct 15, 2025
Justin Webb Secures $36M Refinance Loan For Multifamily Asset Sherman Park Village From Orix USA
1350 West Taylor Street
$36,000,000
Units
273
Asset Type
MultiFamily
Closing
Oct 9, 2025
About this deal
AI
The property asset involved in the transaction is located at 1350 West Taylor Street in Sherman, featuring a multifamily layout with a total of 273 units. The transaction includes a loan amount of $36,000,000, specifically categorized as a refinance.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $36,000,000
- Address: 1350 West Taylor Street
- Market: Sherman
- Units: 273
- Lender: Steve Klufas - Orix USA
- Landlord: Justin Webb
- Landlord's Debt Broker: Sam Tarter - JLL
- Loan Type: Refinance
JLL arranged construction takeout financing for Sherman Park Village, representing Justin Webb and Altura Homes. The bridge capital necessary to complete the lease-up of the asset was provided by Steve Klufas from Orix USA.
Players
Sherman 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93