Cross Development & StoneCreek Real Estate Partners Secures $33.3M Loan For College Station Multifamily
FINANCED
$33,310,000
Texas
See Similar DealsMultiFamily264 SF
Financed 07/22/2020
FINANCED
Cross Development & StoneCreek Real Estate Partners Secures $33.3M Loan For College Station Multifamily
1600 Holleman Drive, College Station, TX 77840
See Similar DealsMultiFamily264 SF
Financed 07/22/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$126,174
Total Square Footage:264 SF
Transaction Type:Loan
The multifamily property located at 1600 Holleman Dr in College Station has recently undergone a significant transaction. The property consists of 264 units and is owned by Cross Development & StoneCreek Real Estate Partners. The transaction involved a construction loan provided by berkadia''>Berkadia, with a loan amount of $33,310,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $33,310,000
- Address: 1600 Holleman Dr
- Market: College Station
- Units: 264
The loan provided by Berkadia was of the construction type, indicating that it was intended to finance the development or renovation of the property. This transaction highlights the collaboration between the property owners, Cross Development & StoneCreek Real Estate Partners, and the lender, Berkadia, in the multifamily real estate market of College Station.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$33,310,000.00
Monthly NOI$222,066.67
Monthly Debt Service$210,541.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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