Updated Oct 28, 2024
Merchants Bank Of Indiana Provides $63.4M Loan For LDG Development's Dallas Multifamily Property
2737 Royal Lane, Dallas, Texas 75229, United States
$63,400,000
Units
300
Asset Type
MultiFamily
Closing
Sep 1, 2022
About this deal
AI
On September 2, 2022, a closed property transaction took place in Dallas' real estate market. The property in question is a multifamily asset located at 2737 Royal Lane. It spans across 12 acres and comprises 300 units.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $63,400,000
- Address: 2737 Royal Lane
- City: Dallas
- Market: Dallas
- Units: 300
- Acres: 12
In this deal, the lender involved was Merchants Bank of Indiana, facilitating the loan transaction. The loan amount provided was $63,400,000. LDG Development acted as the landlord in this transaction, representing the property's ownership.
On the Map
$63,400,000
MultiFamily
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Players
Dallas 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93