The Lynd Group Secures $17.5M Loan On Gardendale Multifamily In San Antonio
FINANCED
$17,500,000
Texas
See Similar DealsMultiFamily
FINANCED
The Lynd Group Secures $17.5M Loan On Gardendale Multifamily In San Antonio
4411 Gardendale, San Antonio, TX, 78...
See Similar DealsMultiFamily
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
Auburn Creek, a 224-unit multifamily community located at 4411 Gardendale in San Antonio, TX, was the subject of a $17.5 million loan provided by Lument. The property, originally built in 1976, boasted a 91 percent occupancy rate at the time the loan closed.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $17,500,000.00
- Market: San Antonio
- Lender's Rep: Managing Director(Lument)
- Borrower: The Lynd Group
Marc Suarez, representing Lument, led the transactions for the acquisition loan at Auburn Creek. The borrower, The Lynd Group, a locally based multifamily investment firm, successfully secured the $17.5 million loan for the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,500,000.00
Monthly NOI$116,666.67
Monthly Debt Service$110,611.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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