Abundance Equity Partners Acquires Multifamily Property In Arlington For $27.68M
FINANCED
$27,680,000
Texas
See Similar DealsMultiFamily196,301 SF
Financed 09/30/2021
FINANCED
Abundance Equity Partners Acquires Multifamily Property In Arlington For $27.68M
2020 Cedar Point Drive, Arlington, TX 76010
See Similar DealsMultiFamily196,301 SF
Financed 09/30/2021
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$141
Total Square Footage:196,301 SF
Transaction Type:Loan
The transaction involves a multifamily property located at 2020 Cedar Point Dr in Arlington. The property was sold by Exponential Property Group to Abundance Equity Partners. The deal was facilitated by brokers John Brickson from Old Capital and Al Silva & Ford Braly from Marcus & Millichap.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $27,680,000
- Loan Amount: $27,680,000
- Loan Type: Bridge
- Loan Terms: 80% LTC / 3.25% Interest Rate
The loan obtained for the transaction was a bridge loan with a loan amount of $27,680,000. The loan terms included 80% Loan-to-Cost (LTC) and an interest rate of 3.25%.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,680,000.00
Monthly NOI$184,533.33
Monthly Debt Service$174,956.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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