Blue Ocean Capital Secures $16.17 Million Refinance Loan From LaSalle Investment Management In Farmers Branch
2835 Villa Creek Drive
$16,175,000
$122/SF
Building Size
131,562 SF
Asset Type
MultiFamily
Closing
Jul 11, 2024
AI
The property asset involved in this transaction is situated at 2835 Villa Creek Drive, Farmers Branch, TX. This multifamily asset spans 131,562 square feet and consists of 161 units. The total loan amount for the refinance transaction reached $16,175,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,175,000
- Address: 2835 Villa Creek Drive
- Market: Farmers Branch, TX
- Lender: LaSalle Investment Management
- Landlord: Blue Ocean Capital
- Broker: Ami Eller & Scott Forbes - GPARENCY
- Loan Type: Refinance
- Borrower Costs to Broker: $11,000
This transaction marks Scott Forbes' first deal closed with GPARENCY, further strengthening the team's expertise in handling multifamily properties in the Farmers Branch market.
Dallas 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
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93