Staples Investment Properties Secures $28M Loan On MultiFamily Asset In Allen
FINANCED
$28,000,000
Texas
See Similar DealsMultiFamily
FINANCED
Staples Investment Properties Secures $28M Loan On MultiFamily Asset In Allen
1500 S Jupiter Rd, Allen, TX, 75002
See Similar DealsMultiFamily
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,000,000.00
Monthly NOI$186,666.67
Monthly Debt Service$176,979.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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