Updated Oct 29, 2024
LYND Co Secures $32.3M Bridge Loan For Porter Multifamily
21899 Valley Ranch Crossing Drive
$32,300,000
$7,910/SF
Building Size
4,083 SF
Asset Type
MultiFamily
Closing
Sep 15, 2021
About this deal
AI
The multifamily property located at 21899 Valley Ranch Crossing Dr in Porter has been involved in a closed transaction. The property consists of 312 units and is owned by LYND Co.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,300,000
- Market: Porter
- Units: 312
- Lender: Lument - Marc Suarez
- Loan Type: Bridge
- Loan Terms: Fixed interest rate and a three-year term
The loan for this transaction was provided by Lument, with Marc Suarez representing the lender. The loan amount was $32,300,000 and it was of bridge type with fixed interest rate and a three-year term.
New Caney MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93