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2818 West Loop 250 North, M...

Dwight Capital Secures $34.3M Loan For 290-Unit Midland Multifamily
FINANCEDMultiFamily

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

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

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.

Players

Josh Sasouness

Dwight Capital

Lender

$531.6M

vol

15 deals

Lender
Dwight Capital
Dwight CapitalLender

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