Barclays Capital Real Estate Funds $7.6M Loan For 3510 Parkridge Dr, Dallas Multifamily
FINANCED
$7,600,000
Texas
See Similar DealsMultiFamily
FINANCED
Barclays Capital Real Estate Funds $7.6M Loan For 3510 Parkridge Dr, Dallas Multifamily
3510 Parkridge Dr, Dallas, TX, 75234
See Similar DealsMultiFamily
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,600,000.00
Monthly NOI$50,666.67
Monthly Debt Service$48,037.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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