Updated Nov 27, 2024
Cross Development & StoneCreek Real Estate Partners Secures $33.3M Loan For College Station Multifamily
1600 Holleman Drive, College Station, TX 77840
$33,310,000
$126,174/SF
Building Size
264 SF
Asset Type
MultiFamily
Closing
Jul 22, 2020
About this deal
AI
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.
On the Map
$33,310,000
$126,174/SF
MultiFamily
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Players
College Station 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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93