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Benefit Street Provides $105M Bridge Loan For 777-unit Multifamily In Round Rock

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FINANCED
$105,000,000
Clifford (Cliff) Welden
Ari Schwartzbard
+ 3

Texas

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MultiFamily718,000 SF
Financed 02/23/2024
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FINANCED

Benefit Street Provides $105M Bridge Loan For 777-unit Multifamily In Round Rock

2800 La Frontera Boulevard

See Similar Deals
MultiFamily718,000 SF
Financed 02/23/2024
Clifford (Cliff) Welden
Ari Schwartzbard
+ 3
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$146
Total Square Footage:718,000 SF
Transaction Type:Loan

The multifamily property located at 2800 La Frontera Boulevard in Round Rock has a total of 777 units spanning 718,000 square feet. The property was part of a recent transaction involving a bridge loan.

Summary of transaction details:

The individuals and companies involved in this transaction include various key figures. The loan was facilitated by Benefit Street, and LYND acted as the landlord in this deal. The brokers representing the transaction were Ari Schwartzbard, Henry Stimler, William Weber, Clifford Welden, Ricky Warner, and Preston Podell from Newmark.

Players

William (Bill) Weber
49 deals$9.6B volume
BROKER

Henry Stimler
Newmark
53 deals$4.7B volume
BROKER

Ari Schwartzbard
Newmark
22 deals$5.8B volume
BROKER

Clifford (Cliff) Welden
Newmark
7 deals$5.4B volume
BROKER

Ricky Warner
Newmark
40 deals$2.5B volume(818) 687-0714
BROKER

Preston Podell
Newmark
2 deals$405M volume
BROKER

Benefit Street Partners Realty
LENDER

Details

FINANCED
IMAGE: Ari Schwartzbard, William Weber, Henry Stimler, Clifford Welden, Ricky Warner & Preston Podell DATE: 02/23/2024 ADDRESS: 2800 La Frontera Boulevard MARKET: Round Rock ASSET TYPE: Multifamily ~ UNITS: 777 ~ SF: 718,000 LENDER: Benefit Street LANDLORD: LYND BROKERS: Ari Schwartzbard, Henry Stimler (@HenryStimler), William Weber, Clifford Welden, Ricky Warner (@Rickywarner1) & Preston Podell - Newmark (@Newmark) LOAN AMOUNT: $105,000,000 LOAN TYPE: Bridge Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$105,000,000.00

Monthly NOI$700,000.00
Monthly Debt Service$663,671.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00