Broadshore Capital Provides $31.2M Loan For Multifamily Property In Burleson
FINANCED
$31,200,000
Texas
See Similar DealsMultiFamily1,515 SF
Financed 01/28/2021
FINANCED
Broadshore Capital Provides $31.2M Loan For Multifamily Property In Burleson
5301 Northwest Tarrant Avenue, Burleson, TX, USA
See Similar DealsMultiFamily1,515 SF
Financed 01/28/2021
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$20,594
Total Square Footage:1,515 SF
Transaction Type:Loan
The multifamily property located at 5301 N. Tarrant Parkway in Burleson has been involved in a closed transaction. The property consists of 217 units and was sold by Sovereign Properties. The transaction was facilitated by the brokerage firm JLL, with Greg Nalbandian representing the seller. The loan for this transaction was provided by Broadshore Capital, with Chris Miller as the lender. The loan amount for the transaction was $31,200,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,200,000
- Units: 217
- Address: 5301 N. Tarrant Parkway, Burleson
- Market: Burleson
Greg Nalbandian from JLL played a key role in representing Sovereign Properties, the seller in this transaction. Chris Miller, from Broadshore Capital, served as the lender for the loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,200,000.00
Monthly NOI$208,000.00
Monthly Debt Service$197,205.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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