Merchants Bank Of Indiana Provides $102M Loan For Multifamily Property In San Antonio
FINANCED
$102,000,000
Texas
See Similar DealsMultiFamily31,028 SF
Financed 12/02/2021
FINANCED
Merchants Bank Of Indiana Provides $102M Loan For Multifamily Property In San Antonio
311 South Saint Mary's Street, San Antonio, TX, USA
See Similar DealsMultiFamily31,028 SF
Financed 12/02/2021
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$3,287
Total Square Footage:31,028 SF
Transaction Type:Loan
The multifamily property located at 311 S Saint Mary's St in San Antonio has recently undergone a closed transaction. The property, owned by an undisclosed seller, has been acquired through a loan provided by Merchants Bank of Indiana and Merchants Capital, with Lee Oller representing the lender in the deal. The transaction amount for this acquisition is $102,000,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $102,000,000
- Address: 311 S Saint Mary's St
- Market: San Antonio
- Lender: Merchants Bank of Indiana; Merchants Capital - Lee Oller
This closed transaction showcases the ongoing strength and activity in the multifamily market in San Antonio. With a significant loan amount of $102,000,000, this acquisition further demonstrates the confidence of lenders and investors in the local real estate market. The involvement of Lee Oller from Merchants Bank of Indiana and Merchants Capital highlights the importance of utilizing trusted representatives in successful real estate deals.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$102,000,000.00
Monthly NOI$680,000.00
Monthly Debt Service$644,709.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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