Harbor Group International Acquires Multifamily Property In Irving For $117.6M
FINANCED
$117,600,000
Texas
See Similar DealsMultiFamily2,088 SF
Financed 04/27/2021
FINANCED
Harbor Group International Acquires Multifamily Property In Irving For $117.6M
385 E Las Colinas Blvd, Irving, TX, USA
See Similar DealsMultiFamily2,088 SF
Financed 04/27/2021
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$56,321
Total Square Footage:2,088 SF
Transaction Type:Loan
Harbor Group International, represented by Jordan Slone and T. Richard Litton Jr., recently secured a loan for a multifamily property located at 385 E Las Colinas Blvd in Irving. The property, consisting of 908 units, attracted the attention of lender KREF Lending, with Matt Salem overseeing the loan process.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $117,600,000
- Address: 385 E Las Colinas Blvd
- Market: Irving
- Units: 908
- Landlord: Harbor Group International - Jordan Slone & T. Richard Litton Jr.
- Lender: KREF Lending - Matt Salem
Harbor Group International, led by Jordan Slone and T. Richard Litton Jr., successfully secured a loan amount of $117,600,000 for the acquisition or refinancing of the multifamily property located at 385 E Las Colinas Blvd in Irving. The loan was provided by KREF Lending, with Matt Salem representing the lender in this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$117,600,000.00
Monthly NOI$784,000.00
Monthly Debt Service$743,312.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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