Updated Mar 3, 2025
Lument Provides $17.9M Bridge Loan For Multifamily Property Acquisition In San Antonio
3815 Parkdale St, San Antonio, TX 78229
$17,900,000
$111/SF
Building Size
160,500 SF
Asset Type
MultiFamily
Closing
Mar 21, 2022
About this deal
AI
The property at 3815 Parkdale Street in San Antonio has been the subject of a recent closed transaction. The multifamily asset comprises 211 units, providing a significant opportunity for investment in the city's market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,900,000
- Loan Type: Bridge Loan
- Loan Terms: nonrecourse, interest-only loan, three-year term
- Loan-to-Cost Ratio: 75%
lument''>Lument, represented by Phil Frasca, served as the lender for this transaction. With their expertise in financing, Lument provided a bridge loan in the amount of $17,900,000. The loan terms include a nonrecourse structure, allowing the borrower to avoid personal liability. It is an interest-only loan with a three-year term, providing flexibility for the borrower. The loan-to-cost ratio is 75%, demonstrating the lender's confidence in the asset and investment opportunity.
Players
San Antonio MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93