Hunington Properties Acquires Multifamily Property In Houston With $60.5M Construction Loan
FINANCED
$60,500,000
Texas
See Similar DealsMultiFamily
Financed 01/18/2022
FINANCED
Hunington Properties Acquires Multifamily Property In Houston With $60.5M Construction Loan
18210 Park Row, Houston, Texas 77084, United States
See Similar DealsMultiFamily
Financed 01/18/2022
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 18210 Park Row in Houston. It consists of 363 units. The loan for this property was provided by 3650 REIT, and the landlord is Hunington Properties, represented by Sandy Aron. The loan amount for this transaction is $60,500,000, and it is a construction loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $60,500,000
- Address: 18210 Park Row
- Market: Houston
- Loan Type: Construction Loan
Sandy Aron, from Hunington Properties, acted as the representative for the landlord in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,500,000.00
Monthly NOI$403,333.33
Monthly Debt Service$382,401.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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