Michael Squires Provides $138.3 Million Refinance Loan For Carbon Companies Multifamily Project In Frisco
15950 Paramount Way
$138,300,000
$234/SF
Building Size
590,467 SF
Asset Type
MultiFamily
Closing
Oct 3, 2024
AI
The property asset involved in this transaction is a multifamily development located at 15950 Paramount Way in Frisco. The asset comprises 690 units and has a total square footage of 590,467. This transaction was a refinance, with a loan amount of $138,300,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $138,300,000
- Loan Type: Refinance
- Lender: Michael Squires
- Developer: Carbon Companies
- Address: 15950 Paramount Way
- Market: Frisco
- Units: 690
- Square Footage: 590,467
- Broker Representatives: Jay Miller, Aj Felberbaum, Gabe Stolar, Noah Rothman & Spencer Miller - BayBridge Real Estate Capital
The deal involved key representation from BayBridge Real Estate Capital, with brokers Jay Miller, Aj Felberbaum, Gabe Stolar, Noah Rothman, and Spencer Miller acting on behalf of the developers. The financing was overseen by Michael Squires, who served as the lender for this substantial refinance transaction.
Players
Frisco 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93