Staples Investment Properties Secures $28M Loan On MultiFamily Asset In Allen
1500 S Jupiter Rd, Allen, TX, 75002
$28,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
AI
The property involved in the transaction is Presidio, a 202-unit multi-family community located at 1500 S Jupiter Rd, Allen, TX, 75002. The acquisition loan for the deal was provided by UBS Bank in the amount of $28,000,000.00. The garden-style community, built in 1986, offers one and two-bedroom floorplans averaging 993 square feet. Amenities include a clubhouse, business center, playground, tennis court, fitness center, patios or balconies, washers, dryers, and fireplaces in select units.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $28,000,000.00
- Market: Allen
- Borrower's Representative: Kevin Leamy (NorthMarq)
- Borrower: Staples Investment Properties
- Lender: Undisclosed Balance She...
The IPA team involved in the deal included Will Balthrope, Drew Kile, Taylor Hill, Michael Ware, and Joey Tumminello.
Players
Allen 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93