Merchants Bank Of Indiana Provides $63.4M Loan For LDG Development's Dallas Multifamily Property
FINANCED
$63,400,000
Texas
See Similar DealsMultiFamily
Financed 09/02/2022
FINANCED
Merchants Bank Of Indiana Provides $63.4M Loan For LDG Development's Dallas Multifamily Property
2737 Royal Lane, Dallas, Texas 75229, United States
See Similar DealsMultiFamily
Financed 09/02/2022
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$63,400,000.00
Monthly NOI$422,666.67
Monthly Debt Service$400,731.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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