Landmark Companies Secures $37.5M Construction Loan For 267-Unit Multifamily In Crowley
FINANCED
$37,500,000
Texas
See Similar DealsMultiFamily649,044 SF
Financed 06/30/2020
FINANCED
Landmark Companies Secures $37.5M Construction Loan For 267-Unit Multifamily In Crowley
305 South Burleson Avenue, Mc Camey, TX, USA
See Similar DealsMultiFamily649,044 SF
Financed 06/30/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$57
Total Square Footage:649,044 SF
Transaction Type:Loan
The Multifamily property located at 305 Farm to Market Road in Crowley has been involved in a recent transaction. This property spans over 14.9 acres and consists of 267 units. The deal was facilitated by brokers Seth Grossman and Sarah Kuebler from Meridian Capital Group. The landlord for this property is Landmark Companies, and the lender in the transaction is Calmwater Capital.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $37,500,000
- Units: 267
- Acres: 14.9
- Landlord: Landmark Companies
- Lender: Calmwater Capital
- Brokers: Seth Grossman & Sarah Kuebler - Meridian Capital Group
The loan involved in this transaction is a construction loan with an amount of $37,500,000. This loan will contribute to the development and construction of the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$37,500,000.00
Monthly NOI$250,000.00
Monthly Debt Service$237,025.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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