Updated Dec 21, 2023
Lument Arranges $15.4M Bridge Loan For 133-Unit Denton Multifamily Property
1700 Village East Drive, Denton, Texas 76209, United States
$15,400,000
Units
130
Asset Type
MultiFamily
Closing
Sep 13, 2022
About this deal
AI
A bridge loan in the amount of $15,400,000 was secured for a multifamily property located at 1700 Village E. Dr. in Denton. The property consists of 133 units and sits on 6.9 acres of land. The loan was facilitated by Lument, a brokerage firm.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,400,000
- Units: 133
- Acres: 6.9
- Loan Type: Bridge
- Loan Terms: 3-year term with 12-month extension options & interest-only for the entire loan term
- Broker: Lument
This bridge loan provides financing for the multifamily property at 1700 Village E. Dr. in Denton. The loan terms include a 3-year term with options to extend for an additional 12 months. The loan is interest-only for the entire term, allowing the borrower to manage cash flow effectively. Lument, a reputable brokerage firm, facilitated the loan transaction.
Players
Denton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit James P. (Jim) Flynn to view all their deals.
Browse Texas multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93