Santander Refinances $8.4M Loan For Multifamily Property In Pasadena With NJ Management Corporation As Landlord
FINANCED
$8,400,000
Texas
See Similar DealsMultiFamily176,000 SF
Financed 06/30/2022
FINANCED
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
See Similar DealsMultiFamily176,000 SF
Financed 06/30/2022
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$47
Total Square Footage:176,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,400,000.00
Monthly NOI$56,000.00
Monthly Debt Service$53,093.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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