Railfield Partners Secures $17.9M Loan For Fort Worth Multifamily Property
500 West Loop 820 South, Fort Worth, TX, USA
$17,850,000
$14,223/SF
Building Size
1,255 SF
Asset Type
MultiFamily
Closing
Oct 1, 2020
AI
500 W. Loop 820 S. in Fort Worth has been acquired by Railfield Partners. The property is a multifamily asset consisting of 324 units. The transaction took place on 10/02/2020, with a loan amount of $17,850,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,850,000
- Market: Fort Worth
- Borrower: Railfield Partners
- Loan Type: 10-year, floating-rate loan
- Interest Terms: Full-term interest-only payments
- Interest Rate: Below 2.5%
The loan for this property was brokered by Stuart Wernick and Matt Newton of Walker & Dunlop. The 10-year, floating-rate loan was structured with full-term interest-only payments at a rate below 2.5%.
Players
Fort Worth MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93