NorthMarq Provides $10.6M Loan For Multifamily Property In Houston
FINANCED
$10,600,000
Texas
See Similar DealsMultiFamily626 SF
Financed 05/28/2020
FINANCED
NorthMarq Provides $10.6M Loan For Multifamily Property In Houston
4700 South Kirkwood Road, Houston, TX 77072
See Similar DealsMultiFamily626 SF
Financed 05/28/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$16,932
Total Square Footage:626 SF
Transaction Type:Loan
The multifamily property located at 4700 S Kirkwood Rd in Houston was recently involved in a closed transaction. The property consists of 316 units and was sold for an undisclosed amount. The deal was facilitated by Travis Fite from northmarq''>northmarq'>NorthMarq.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Date: 05/28/2021
- Address: 4700 S Kirkwood Rd, Houston
- Market: Houston
- Units: 316
- Lender: NorthMarq
- Loan Amount: $10,600,000
- Loan Terms: 10-year term and a 30-year amortization schedule
In this transaction, Travis Fite from NorthMarq acted as the lender. The loan, amounting to $10,600,000, has a 10-year term and a 30-year amortization schedule. The involvement of key individuals and companies like Travis Fite and NorthMarq played a crucial role in enabling this deal to take place.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,600,000.00
Monthly NOI$70,666.67
Monthly Debt Service$66,999.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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