Fort Worth Multifamily Acquires $13.93M Bridge Loan With Old Capital & Newmark Brokers
FINANCED
$13,930,000
Texas
See Similar DealsMultiFamily156,405 SF
Financed 05/12/2020
FINANCED
Fort Worth Multifamily Acquires $13.93M Bridge Loan With Old Capital & Newmark Brokers
2925 West Normandale Street, Fort Worth, TX 76116, USA
See Similar DealsMultiFamily156,405 SF
Financed 05/12/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$89
Total Square Footage:156,405 SF
Transaction Type:Loan
A bridge loan of $13,930,000 was secured for a multifamily property located at 2925 W. Normandale Street in Fort Worth. The loan was provided on May 12, 2021, and had a loan-to-cost (LTC) ratio of 80% and an interest rate of 3.65%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,930,000
- Address: 2925 W. Normandale Street
- Market: Fort Worth
The brokers involved in this transaction were John Brickson from Old Capital and Jakob Andersen from Newmark.
This deal highlights the collaboration between John Brickson from Old Capital and Jakob Andersen from Newmark. They represented the parties involved in securing the bridge loan for this multifamily property in Fort Worth.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,930,000.00
Monthly NOI$92,866.67
Monthly Debt Service$88,047.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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