Sheridan Capital Provides $9.9M Bridge Loan For Multifamily Property On South Martin Luther King Drive
FINANCED
$9,900,000
Texas
See Similar DealsMultiFamily
Financed
FINANCED
Sheridan Capital Provides $9.9M Bridge Loan For Multifamily Property On South Martin Luther King Drive
5230 Martin Luther King Jr Parkway, Beaumont, Texas 77705, United States
See Similar DealsMultiFamily
Financed
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
Located at 5230 South Martin Luther King Drive in Beaumont, TX, this multifamily property consists of 96 units. The transaction took place on 03/04/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,900,000
- Market: Beaumont, TX
- Asset Type: Multifamily
- Units: 96
The lender for this transaction was Sheridan Capital, and the loan originator was Joe Fishman.
This bridge loan amounted to $9,900,000 and played a crucial role in facilitating the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,900,000.00
Monthly NOI$66,000.00
Monthly Debt Service$62,574.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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