SRJ Real Estate Investments Acquires Multifamily Property In Friendswood For $50.7M With Loan From Natixis
FINANCED
$50,700,000
Texas
See Similar DealsMultiFamily283,568 SF
Financed 06/10/2022
FINANCED
SRJ Real Estate Investments Acquires Multifamily Property In Friendswood For $50.7M With Loan From Natixis
19100 Glenwest Drive, Houston, Texas 77546, United States
See Similar DealsMultiFamily283,568 SF
Financed 06/10/2022
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$178
Total Square Footage:283,568 SF
Transaction Type:Loan
The multifamily property located at 19100 Glenwest Dr in Friendswood has been involved in a recent closed transaction. The property consists of 322 units and is situated in the Friendswood market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,700,000
- Date: 06/10/2022
- Address: 19100 Glenwest Dr
- Market: Friendswood
- Units: 322
- Lender: natixis''>Natixis
- Landlord: SRJ Real Estate Investments
- Brokers: Tucker Knight & Carl Rasmussen - Berkadia
- Loan Type: Acquisition Loan
Tucker Knight & Carl Rasmussen from Berkadia represented the buyers in this transaction. The loan, provided by Natixis, amounted to $50,700,000 and was an acquisition loan for the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,700,000.00
Monthly NOI$338,000.00
Monthly Debt Service$320,458.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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