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Varde Mortgage Capital Provides $56.5M Acquisition Loan For Multifamily Property At 5072 Timberhill Drive, San Antonio, TX

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FINANCED
$56,500,000
John Flynn
Jimmy Cochran
Michael Zaremski
+ 3

Texas

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MultiFamily
Financed 04/11/2022
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Property Image
FINANCED

Varde Mortgage Capital Provides $56.5M Acquisition Loan For Multifamily Property At 5072 Timberhill Drive, San Antonio, TX

5072 Timberhill Drive, San Antonio, Texas 78238, United States

See Similar Deals
MultiFamily
Financed 04/11/2022
John Flynn
Jimmy Cochran
Michael Zaremski
+ 3
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Loan

Located at 5072 Timberhill Drive in San Antonio, TX, this multifamily property spanning 278,696 square feet with 340 units was recently involved in a loan transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $56,500,000
  • Address: 5072 Timberhill Drive
  • Market: San Antonio, TX
  • Square Footage: 278,696
  • Number of Units: 340

The loan was provided by Varde Mortgage Capital for the purpose of acquisition. The deal was facilitated by brokers John Flynn, Michael Zaremski, Michael Shmuely, and Jimmy Cochran of JLL.

Players

Drew Garza
Institutional Property Advisors
Drew Garza
37 deals$130.6M volume
BROKER
Will Balthrope
Institutional Property Advisors
Will Balthrope
89 deals$503.3M volume
BROKER
Michael Shmuely
JLL
Michael Shmuely
27 deals$2.6B volume
BROKER
Michael Zaremski
JLL
Michael Zaremski
16 deals$1.2B volume
BROKER
John Flynn
JLL
John Flynn
20 deals$1.1B volume
BROKER
Jimmy Cochran
JLL
Jimmy Cochran
5 deals$797.1M volume
BROKER
Varde Mortgage Capital
Varde Mortgage Capital
LENDER

Details

FINANCED
IMAGE: Michael Zaremski, Michael Shmuely, John Flynn & Jimmy Cochran DATE: 04/11/2022 ADDRESS: 5072 Timberhill Drive MARKET: San Antonio, TX ASSET TYPE: Multifamily ~ SF: 278,696 ~ UNITS: 340 LENDER: Varde Mortgage Capital BROKERS: John Flynn, Michael Zaremski (@MZaremski), Michael Shmuely (@MShmu) & Jimmy Cochran (@Jimmy.Cochran1) - JLL (@JLL) LOAN AMOUNT: $56,500,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$56,500,000.00

Monthly NOI$376,666.67
Monthly Debt Service$357,118.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00