Justin Webb Secures $36M Refinance Loan For Multifamily Asset Sherman Park Village From Orix USA
1350 West Taylor Street
$36,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 9, 2025
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
Loading comparables…
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