Justin Webb Secures $36M Refinance Loan For Multifamily Asset Sherman Park Village From Orix USA
FINANCED
$36,000,000
Texas
See Similar DealsMultiFamily
Financed 10/10/2025
FINANCED
Justin Webb Secures $36M Refinance Loan For Multifamily Asset Sherman Park Village From Orix USA
1350 West Taylor Street
See Similar DealsMultiFamily
Financed 10/10/2025
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$36,000,000.00
Monthly NOI$240,000.00
Monthly Debt Service$227,544.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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