Sovereign Properties Secures $49.1M Loan For North Richland Hills Multifamily
FINANCED
$49,100,000
Texas
See Similar DealsMultiFamily11,697 SF
Financed 10/01/2020
FINANCED
Sovereign Properties Secures $49.1M Loan For North Richland Hills Multifamily
3021 Parker Blvd, North Richland Hills, TX 76180, Estados Unidos
See Similar DealsMultiFamily11,697 SF
Financed 10/01/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$4,197
Total Square Footage:11,697 SF
Transaction Type:Loan
A multifamily property located at 3021 Parker Blvd. in North Richland Hills has been involved in a recent closed transaction. The property, developed by Sovereign Properties, has a total square footage of 11,697. The loan for this transaction amounted to $49,100,000. The lender for the deal was Asia Capital Real Estate. The brokers representing the transaction were Greg Nalbandian and Jesse Wright from JLL.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $49,100,000
- Address: 3021 Parker Blvd.
- Market: North Richland Hills
- Square Footage: 11,697
- Developer: Sovereign Properties
- Lender: Asia Capital Real Estate
- Brokers: Greg Nalbandian & Jesse Wright - JLL
This transaction highlights the involvement of key individuals and companies in the deal, such as Sovereign Properties as the developer and Asia Capital Real Estate as the lender. Greg Nalbandian and Jesse Wright from JLL served as the brokers representing the transaction. Their expertise and negotiation skills played a significant role in successfully closing this multifamily property deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$49,100,000.00
Monthly NOI$327,333.33
Monthly Debt Service$310,345.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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