Nationwide Insurance Provides $56M Acquisition Loan For 354-Unit Multifamily Property In McKinney, TX
FINANCED
$56,000,000
Texas
See Similar DealsMultiFamily
Financed 10/31/2022
FINANCED
Nationwide Insurance Provides $56M Acquisition Loan For 354-Unit Multifamily Property In McKinney, TX
1703 Rockhill Road, McKinney, Texas 75069, United States
See Similar DealsMultiFamily
Financed 10/31/2022
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 1703 Rockhill Road in McKinney, TX has recently been involved in a loan transaction. The property consists of 354 units, making it a substantial asset in the market. The acquisition loan for this property was provided by nationwide-''>Nationwide Insurance.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $56,000,000
- Units: 354
- Address: 1703 Rockhill Road, McKinney, TX
- Market: McKinney, TX
Arnel Management is the landlord of this property, indicating their ownership and management role in the deal. As for the loan, it was an acquisition loan, allowing the buyer to secure the property for a significant transaction amount.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$56,000,000.00
Monthly NOI$373,333.33
Monthly Debt Service$353,958.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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