Rockstar Capital Secures $35M Loan For Multifamily Acquisition In Houston With Lender Capital One
FINANCED
$35,040,000
Texas
See Similar DealsMultiFamily1,227 SF
Financed 08/02/2021
FINANCED
Rockstar Capital Secures $35M Loan For Multifamily Acquisition In Houston With Lender Capital One
3131 West Bellfort Avenue, Houston, TX, USA
See Similar DealsMultiFamily1,227 SF
Financed 08/02/2021
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$28,557
Total Square Footage:1,227 SF
Transaction Type:Loan
Rockstar Capital has completed the acquisition of a multifamily property located at 3131 W Belfort Ave in Houston. The property was acquired with the assistance of a loan from Capital One.
Summary of transaction details:
- Property Type: Multifamily Acquisition
- Transaction Amount: $35,040,000
- Address: 3131 W Belfort Ave, Houston
- Lender: Capital One
Hannah Howard and Jonathan Zilber of Meridian Capital Group represented Rockstar Capital in the loan transaction.
The loan amount of $35,040,000 was secured with a 77% loan-to-value (LTV) ratio on a Class A property. The loan has a term of 10 years, with the first 5 years being interest-only. The interest rate for the loan is 2.74%. It is important to note that the loan is non-recourse, providing Rockstar Capital with additional financial security.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,040,000.00
Monthly NOI$233,600.00
Monthly Debt Service$221,476.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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