Updated Dec 30, 2024
Affinius Capital Provides $81.3 Million Loan To Urban Catalyst For Richardson Multifamily Development
150 West Main Street
$81,300,000
$4,782/SF
Building Size
17,000 SF
Asset Type
MultiFamily
Closing
Dec 19, 2024
About this deal
AI
The transaction involves a newly-built multifamily property located at 150 West Main Street in Richardson, TX. This asset features a total of 350 units and encompasses 17,000 square feet of retail space. The refinance loan amount for this property is $81.3 million.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $81,300,000
- Address: 150 West Main Street
- Market: Richardson
- Square Footage: 17,000
- Units: 350
- Lender: Len O'Donnell - Affinius Capital
- Landlord: Erik Hayden - Urban Catalyst
- Broker: Jeremy Sain - JLL
The loan was provided to Catalyst Urban Development, with financing arranged by broker Jeremy Sain from JLL. This transaction is notable for involving key individuals in the commercial real estate financing sector.
Players
Richardson 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93