Noah Laredo & Grant Garlock Of BMC Capital Secures $26.5M Refinance For 235-Unit Multifamily In Houston
$26,500,000
$102/SF
Building Size
258,500 SF
Asset Type
MultiFamily
Closing
Apr 9, 2025
AI
The transaction involved a multifamily property with 235 units, totaling 258,500 square feet, located in the Houston market. The loan amount secured for this property was $26,500,000, with a refinance loan type that includes an 81% loan-to-cost ratio and an 8.04% interest rate.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $26,500,000
- Loan Type: Refinance
- Loan Terms: 81% LTC, 8.04% Interest Rate
- Units: 235
- Square Feet: 258,500
- Market: Houston
- Broker: Noah Laredo & Grant Garlock - BMC Capital
Key individuals in this transaction include the brokers Noah Laredo and Grant Garlock, who represent BMC Capital in facilitating this refinance deal. A note from the brokers emphasizes their ability in turning challenges into closed deals.
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93