Updated Oct 28, 2024
Dwight Capital Secures $34.3M Loan For 290-Unit Midland Multifamily
2818 West Loop 250 North, Midland, TX, USA
$34,300,000
$20,453/SF
Building Size
1,677 SF
Asset Type
MultiFamily
Closing
Jun 1, 2020
About this deal
AI
Located at 2818 West Loop 250 North in Midland, this multifamily property spans across 15.5 acres and consists of 290 units. With a closed transaction date of 06/01/2021, the property was recently involved in a significant deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $34,300,000
- Lender: Dwight Capital - Adam Sasouness, Josh Sasouness & Brandon Baksh
The loan for this transaction was provided by Dwight Capital, with Adam Sasouness, Josh Sasouness, and Brandon Baksh representing the lending company. The loan amount granted for this deal was $34,300,000.
On the Map
$34,300,000
$20,453/SF
MultiFamily
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Players
Midland 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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93