Updated Oct 28, 2024
Key Bank Provides $33.9M Bridge Loan For Multifamily Property In San Antonio
5072 Timberhill, San Antonio, TX, USA
$33,900,000
Building Size
—
Asset Type
MultiFamily
Closing
May 21, 2020
About this deal
AI
Timberhill Commons, Ltd. has secured a bridge loan for the property located at 5072 Timberhill Drive in San Antonio. The loan was provided by Key Bank and facilitated by Charles Foschini of Berkadia.
Summary of transaction details:
- Property Type: Multifamily
- Loan Amount: $33,900,000
- Loan Type: Bridge
- Loan Terms: Three-year, floating rate loan with two 1-year extension options and a 70 percent LTV
The property at 5072 Timberhill Drive received a bridge loan of $33,900,000 from Key Bank. The loan has a term of three years, with the option to extend for an additional two 1-year periods. The loan is a floating rate loan and has a loan-to-value (LTV) ratio of 70 percent. Charles Foschini from Berkadia represented Timberhill Commons, Ltd. in the loan transaction.
Players
San Antonio 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
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93