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River Rock Capital Group Secures $24.57M Bridge Loan For Acquisition Of Multifamily Property In San Antonio

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FINANCED
$24,570,000

Texas

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MultiFamily
Financed 05/16/2022
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Property Image
FINANCED

River Rock Capital Group Secures $24.57M Bridge Loan For Acquisition Of Multifamily Property In San Antonio

2355 Austin Highway, San Antonio, Texas 78218, United States

See Similar Deals
MultiFamily
Financed 05/16/2022
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Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Loan

River Rock Capital Group has acquired a multifamily property located at 2355 Austin Highway in San Antonio - Alamo Park, Texas. The property consists of 309 units and offers a total of 449 parking spaces. The acquisition was facilitated through an acquisition bridge loan, which allowed for a swift 16 business day close. The loan amount for the transaction was $24,570,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $24,570,000
  • Address: 2355 Austin Highway, San Antonio - Alamo Park, Texas
  • Total Units: 309
  • Total Parking Spaces: 449

The transaction was handled by Judah Hammer and Daniel Neiss of Meridian Capital Group, who acted as the brokers for River Rock Capital Group. Their expertise and efforts contributed to the successful acquisition of the property.

Players

Daniel Neiss
27 deals$635.8M volume
BROKER

Judah Hammer
CBRE
36 deals$1.3B volume
BROKER

Details

FINANCED
IMAGE: Judah Hammer & Daniel Neiss DATE: 05/16/2022 ADDRESS: 2355 Austin Highway San Antonio - Alamo Park MARKET: Texas ASSET TYPE: Multifamily (309 Units with 449 total Parking Spaces) LANDLORD: River Rock Capital Group BROKERS: Judah Hammer & Daniel Neiss - Meridian Capital Group LOAN AMOUNT: $24,570,000 LOAN TYPE: Acquisition Bridge loan – 16 business day close!

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$24,570,000.00

Monthly NOI$163,800.00
Monthly Debt Service$155,299.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00