Updated Oct 28, 2024
MVAH Partners LLC Secures $39.6M Placement Loan For Multifamily Property In Plano
1404 Vontress St, Plano, TX 75074
$39,600,000
Units
226
Asset Type
MultiFamily
Closing
Jan 25, 2022
About this deal
AI
The multifamily property located at 1404 Vontress Street in Plano has recently been involved in a closed transaction. This property consists of 226 units and is owned by MVAH Partners LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,600,000
- Address: 1404 Vontress Street, Plano
- Market: Plano
- Lender: keybank-''>KeyBank Community Development Lending and Investment (CDLI) - David Lacki & Alton Tinker
- Loan Type: Placement Loan
In this transaction, KeyBank Community Development Lending and Investment (CDLI), represented by David Lacki and Alton Tinker, provided a placement loan of $39,600,000 to the property owners, MVAH Partners LLC.
Players
Plano 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93