Old Capital Provides $8.5M Bridge Loan For Haltom City Multifamily Property
FINANCED
$8,500,000
+ 3
Texas
See Similar DealsMultiFamily
Financed
FINANCED
Old Capital Provides $8.5M Bridge Loan For Haltom City Multifamily Property
4812 Waldemar Street, Haltom City, Texas 76117, United States
See Similar DealsMultiFamily
Financed
+ 3
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 4812 Waldemar St in Haltom City. It consists of 89 units with a total square footage of 75,383. The deal was closed on 05/26/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Market: Haltom City
- Lender: Old Capital
- Broker: James Wilson - Old Capital
- Loan Type: Bridge
- Loan Terms: 75% LTC, 4% + SOFR, Full Term IO
The lender for this transaction was Old Capital, and the broker representing the deal was James Wilson from Old Capital. The loan amount for the transaction was $8,500,000, and it was a bridge loan with terms of 75% Loan-to-Cost (LTC), a 4% interest rate plus SOFR, and full term interest-only payments.
Players
LENDER
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,500,000.00
Monthly NOI$56,666.67
Monthly Debt Service$53,725.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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