Strategic Realty Holdings Acquires Multifamily Property In Houston With $6.2M Loan From Electra Capital
FINANCED
$6,200,000
Texas
See Similar DealsMultiFamily
Financed 08/11/2021
FINANCED
Strategic Realty Holdings Acquires Multifamily Property In Houston With $6.2M Loan From Electra Capital
2331 Bammelwood Drive, Houston, TX, USA
See Similar DealsMultiFamily
Financed 08/11/2021
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
Strategic Realty Holdings, represented by Eddie Lorin, has secured a $6,200,000 loan from Electra Capital, represented by Samuel J. Greenblatt, for the acquisition of a multifamily property in Houston. The property, located at 2331 Bammelwood Drive and 411 Highland Cross Drive, consists of 488 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,200,000
- Address: 2331 Bammelwood Drive & 411 Highland Cross Drive, Houston
- Units: 488
- Borrower: Strategic Realty Holdings - Eddie Lorin
- Lender: Electra Capital - Samuel J. Greenblatt
Eddie Lorin, with the support of Strategic Realty Holdings, successfully secured the $6,200,000 loan from Samuel J. Greenblatt of Electra Capital. The acquired multifamily property, located in Houston, consists of 488 units and is situated at 2331 Bammelwood Drive and 411 Highland Cross Drive.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,200,000.00
Monthly NOI$41,333.33
Monthly Debt Service$39,188.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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