Updated May 12, 2025
3013 Northridge Villas LLC Secures $6.4M Loan For Multifamily Property On Northridge Drive
3013 Northridge Dr, Sherman, TX 75090, USA
$6,400,000
$680/SF
Building Size
9,400 SF
Asset Type
MultiFamily
Closing
Sep 9, 2020
About this deal
AI
The property asset involved is a multifamily building located at 3013 Northridge Drive in Sherman. The asset consists of 101 units and was built in 1969, with renovations completed in 2019.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,400,000
- Loan Date: 09/10/2020
- Lender: Colliers Mortgage & Old Capital Lending
- Borrower: 3013 Northridge Villas LLC
- Loan Terms: 12-year term, a 30-year amortization schedule
Key individuals in this deal include the borrower, 3013 Northridge Villas LLC, which undertook the loan agreement, and the lenders, Colliers Mortgage & Old Capital Lending, who facilitated the financing for this transaction.
Players
Sherman 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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93