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Axonic Properties LLC Acquires 422-Unit Multifamily Property In San Antonio, TX For $33.6M Loan

Property Image
FINANCED
$33,600,000
Brian Kennedy

Texas

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MultiFamily399,097 SF
Financed 11/01/2022
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FINANCED

Axonic Properties LLC Acquires 422-Unit Multifamily Property In San Antonio, TX For $33.6M Loan

2189 South W. W. White Road

See Similar Deals
MultiFamily399,097 SF
Financed 11/01/2022
Brian Kennedy
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$84
Total Square Footage:399,097 SF
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 2189 S WW White Rd, San Antonio, TX. It spans a total square footage of 939,415 and encompasses 422 units. The total loan amount secured for this acquisition is $33,600,000, structured as a 24-month interim loan with interest-only payments.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $33,600,000
  • Square Footage: 939,415
  • Units: 422
  • Address: 2189 S WW White Rd
  • Market: San Antonio, TX
  • Lender: KeyBank Real Estate Capital - Alan Isenstadt
  • Landlord: Jonathan Shechtman & Brian Kennedy - Axonic Properties LLC
  • Loan Type: Acquisition
  • Loan Terms: 24 month Interim Loan, Interest-Only

The key individuals involved in this transaction include Alan Isenstadt representing KeyBank Real Estate Capital as the lender, and Jonathan Shechtman and Brian Kennedy of Axonic Properties LLC serving as the landlords. This transaction highlights the collaboration between the lending institution and the property management team facilitating the deal.

Players

BK
2 deals$97.2M volume
BROKER


Brian Kennedy
Axonic Properties
11 deals$169.1M volume
BROKER

KeyBank
LENDER

Jonathan Shechtman
Axonic Properties
17 deals$503.1M volume
LANDLORD

Brian Kennedy
Axonic Properties
11 deals$169.1M volume
LANDLORD

Details

FINANCED
IMAGE: Alan Isenstadt, Jonathan Shechtman & Brian Kennedy DATE: 11/01/2022 ADDRESS: 2189 S WW White Rd MARKET: San Antonio, TX ASSET TYPE: Multifamily ~ UNITS: 422 ~ SF: 939,415 LENDER: KeyBank Real Estate Capital - Alan Isenstadt (@Can__i_kick_it) LANDLORD: Jonathan Shechtman (@Shecdog) & Brian Kennedy - Axonic Properties LLC LOAN AMOUNT: $33,600,000 LOAN TYPE: Acquisition LOAN TERMS: 24 month Interim Loan, Interest-Only

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$33,600,000.00

Monthly NOI$224,000.00
Monthly Debt Service$212,374.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00