World Development Company (WDC) Secures $42M Loan For Multifamily Property In Edinburg

The multifamily property located at 4216 North, I-69C, Edinburg, was involved in a recent transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $42,000,000
• Units: 288
• Loan Amount: $42,000,000
• Loan Terms: 85 percent loan-to-cost, 3.25 percent interest rate, 40-year amortization schedule

The property was purchased by World Development Company (WDC), represented by David Salazar, while the loan was provided by Davis-Penn Mortgage. The brokers involved in the deal were Baruch Litwin and David Gibber from GLJ Real Estate, and Yair Tilson from Kay Finance.