Updated Feb 5, 2025
Barclays Capital Real Estate Funds $7.6M Loan For 3510 Parkridge Dr, Dallas Multifamily
3510 Parkridge Dr, Dallas, TX, 75234
$7,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The Burgundy is a multifamily asset located at 3510 Parkridge Dr in Dallas, TX, 75234. The property consists of 111 apartments and 69 condominiums. Barclays Capital Real Estate provided a $7.6 million acquisition loan for this property, with a 10-year term, three years of interest-only payments, and a 30-year amortization schedule.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $7,600,000.00
- Borrower's Rep: Melissa Marcolini Quinn (JLL), William Hancock (NorthMarq Capital Finance)
- Lender: Barclays Capital Real Estate
Melissa Marcolini Quinn of JLL and William Hancock of NorthMarq arranged the loan for The Burgundy in Dallas. The borrower for this acquisition loan was not disclosed. Additionally, NorthMarq not only arranged the loan but also facilitated the sale of the multifamily asset.
On the Map
$7,600,000
MultiFamily
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Dallas MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93