Meridian Capital Group Facilitates $35M Acquisition Loan For Multifamily Property In Houston
5357 West Bellfort Avenue, Houston, TX 77035, USA
$35,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 12, 2021
AI
The multifamily property located at 3131 West Belfort Ave in Houston was recently involved in a closed transaction. The acquisition loan for this property was secured through a 10-year agency loan. The loan amount was $35,000,000, and it featured a favorable interest rate of 2.74 percent.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,000,000
- Market: Houston
- Loan Type: Acquisition
- Loan Terms: The 10-year agency loan, features a rate of 2.74 percent
- Brokers: Jonathan Zilber & Hannah Howard - Meridian Capital Group
The Meridian Capital Group, represented by brokers Jonathan Zilber and Hannah Howard, played a crucial role in facilitating this transaction. They assisted in securing the acquisition loan for the multifamily property at 3131 West Belfort Ave in Houston, ensuring favorable loan terms for their clients.
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93