Meridian Capital Group Facilitates $35M Acquisition Loan For Multifamily Property In Houston
FINANCED
$35,000,000
Texas
See Similar DealsMultiFamily
Financed 10/12/2021
FINANCED
Meridian Capital Group Facilitates $35M Acquisition Loan For Multifamily Property In Houston
5357 West Bellfort Avenue, Houston, TX 77035, USA
See Similar DealsMultiFamily
Financed 10/12/2021
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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