Old Capital Brokers Secures $29.4M Bridge Loan For 401-Unit San Antonio Multifamily
FINANCED
$29,400,000
Texas
See Similar DealsMultiFamily28,572 SF
Financed 09/02/2021
FINANCED
Old Capital Brokers Secures $29.4M Bridge Loan For 401-Unit San Antonio Multifamily
4400 Bluemel Road
See Similar DealsMultiFamily28,572 SF
Financed 09/02/2021
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$1,029
Total Square Footage:28,572 SF
Transaction Type:Loan
The asset involved in the transaction is a multifamily property located at 4400 Bluemel Rd in the San Antonio market. This property consists of 401 units and the loan amount is $29,400,000 for a bridge loan type.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,400,000
- Units: 401
- Address: 4400 Bluemel Rd
- Market: San Antonio
- Lender: John Sloot & Colin Cross - Lument
- Broker: Old Capital - John Brickson
- Loan Type: Bridge
This transaction features key individuals, including John Sloot and Colin Cross representing the lending side as part of Lument, while John Brickson from Old Capital acts as the representative broker in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$29,400,000.00
Monthly NOI$196,000.00
Monthly Debt Service$185,828.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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