Updated Oct 28, 2024
Santander Refinances $8.4M Loan For Multifamily Property In Pasadena With NJ Management Corporation As Landlord
2216 East Harris Road, Pasadena, Texas 77506, United States
$8,400,000
$47/SF
Building Size
176,000 SF
Asset Type
MultiFamily
Closing
Jun 29, 2022
About this deal
AI
The multifamily property located at 2216 E Harris Rd in Pasadena has undergone a recent loan transaction. The property spans approximately 176,000 square feet and comprises 200 units. The loan, which took place on June 30, 2022, was facilitated by Santander as the lender. NJ Management Corporation acts as the landlord for this property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,400,000
- Loan Type: Refinance
- Loan Terms: 3.84%, 7-year, Full Term Interest Only
Allan Lieberman, Asher Haft, and Jacob Kaufman from Meridian Capital Group served as brokers for this loan transaction.
On the Map
$8,400,000
$47/SF
MultiFamily
View full map
Players
Pasadena MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Jacob Kaufman to view all their deals.
Browse Texas multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.89%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93