Updated Dec 4, 2024
PACE Equity Provides $5.1 Million C-PACE Financing For The Travis Building In San Antonio
405 North Saint Mary's Street
$5,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 29, 2024
About this deal
AI
The Travis Building is a newly constructed multifamily apartment complex located at 405 North Saint Mary's Street in San Antonio. The asset consists of one- and two-bedroom units and includes amenities such as a fitness center, business center, and onsite laundry. The building was completed in 2023.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,100,000
- Lender: PACE Equity
- Loan Date: 08/29/2024
- Market: San Antonio
PACE Equity issued C-PACE financing for the transaction, amounting to $5.1 million. This funding supports the development of the Travis Building, contributing to the growth of multifamily housing in downtown San Antonio.
On the Map
$5,100,000
MultiFamily
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Players
San Antonio MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.11%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93