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Reap Capital Secures $16.5M Acquisition Loan For 164-Unit Multifamily In Grand Prairie

Property Image
FINANCED
$16,500,000
Robert Siddall
William Givens
Shawn Givens
+ 1

Texas

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MultiFamily
Financed 09/05/2023
the dealplayerscompscontact
Property Image
FINANCED

Reap Capital Secures $16.5M Acquisition Loan For 164-Unit Multifamily In Grand Prairie

201 W Tarrant Rd Grand Prairie, TX 75050, USA

See Similar Deals
MultiFamily
Financed 09/05/2023
Robert Siddall
William Givens
Shawn Givens
+ 1
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Loan

A $16.5 million Fannie Mae acquisition loan has been secured for The Chandler, a 164-unit multifamily property located at 201 West Tarrant Road in Grand Prairie, Texas. The property is situated between Dallas and Fort Worth. The loan, arranged by Colliers Mortgage, has a five-year term and a 35-year amortization schedule. The borrower in this transaction is Reap Capital, a Dallas-based private equity firm.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $16,500,000
  • Units: 164

Key individuals and companies involved in this deal include David Lilley, who serves as the landlord representing Reap Capital. The brokers responsible for securing the loan are Robert Siddall, William Givens, Shawn Givens, and Ken Higgins from Colliers Mortgage.

Players

Robert Siddall
Colliers
Robert Siddall
4 deals$16.5M volume
BROKER
William Givens
Colliers
William Givens
1 deal$16.5M volume(214) 217-4869
BROKER
Shawn Givens
Colliers
Shawn Givens
1 deal$16.5M volume(214) 217-4868
BROKER
Ken Higgins
Colliers
Ken Higgins
1 deal$16.5M volume(214) 217-4871
BROKER
RC
Reap Capital
LANDLORD

Details

FINANCED
IMAGE: Robert Siddall, William Givens, Shawn Givens, Ken Higgins & David Lilley DATE: 09/05/2023 ADDRESS: 201 West Tarrant Road MARKET: Grand Prairie ASSET TYPE: Multifamily ~ UNITS: 164 LANDLORD: David Lilley - Reap Capital (@ReapCapital) BROKERS: Robert Siddall (@Robbiesid), William Givens, Shawn Givens & Ken Higgins - Colliers Mortgage (@ColliersInternational) LOAN AMOUNT: $16,500,000 LOAN TYPE: Acquisition Loan LOAN TERMS: five-year term and a 35-year amortization schedule NOTE: Colliers Mortgage secured a $16.5 million Fannie Mae acquisition loan for The Chandler, a 164-unit multifamily property in Grand Prairie, Texas, between Dallas and Fort Worth. The loan, arranged by Colliers Mortgage, has a five-year term and a 35-year amortization schedule, with the borrower being Reap Capital, a Dallas-based private equity firm.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,500,000.00

Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00