Updated Dec 4, 2024
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
$9,900,000
Units
96
Asset Type
MultiFamily
Closing
Mar 3, 2022
About this deal
AI
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.
The multifamily loan at 5230 Martin Luther King Jr Parkway, Beaumont, Texas 77705, United States in Beaumont, Texas financed for $9.9M in 2022. Reported inventory is 96 units across 96 units. Joe Fishman, Sheridan Capital appear on the loan alongside Sheridan Capital. This page is the Beaumont, Texas file for the 5230 Martin Luther King Jr Parkway, Beaumont, Texas 77705, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Beaumont sit in the Market section below. Filter that Beaumont multifamily set by closing date to see what else financed near 5230 Martin Luther King Jr Parkway, Beaumont, Texas 77705, United States around 2022. Published consideration for 5230 Martin Luther King Jr Parkway, Beaumont, Texas 77705, United States is $9.9M, dated 2022. Cite this Sheridan Capital Provides $9.9M Bridge Loan For Multifamily Property On South Martin Luther King Drive loan when underwriting similar multifamily product around Beaumont, Texas.
Players
Beaumont 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
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93