Principal Global Investors Provides $58.3M Construction Loan For 394-Unit Multifamily Property In Rowlett
FINANCED
$58,300,000
Texas
See Similar DealsMultiFamily
Financed 05/16/2022
FINANCED
Principal Global Investors Provides $58.3M Construction Loan For 394-Unit Multifamily Property In Rowlett
30 Dalrock Road, Rowlett, Texas 75089, United States
See Similar DealsMultiFamily
Financed 05/16/2022
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 30 Dalrock Rd in Rowlett was involved in a recent closed transaction. The property consists of 394 units and is owned by Zale Properties. The market value of the property was not provided.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $58,300,000
- Loan Type: Construction Loan
- Loan Terms: eight-year, fixed-rate
The loan for the transaction was provided by Principal Global Investors. The brokers responsible for representing the buyer and seller in this deal were John Brownlee & Wilson Bauer from JLL.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$58,300,000.00
Monthly NOI$388,666.67
Monthly Debt Service$368,495.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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