Sean Ribble Of Nuveen Green Capital And Lee McCormick Of Lone Star PACE Provide $21.9M Loan For Multifamily Community In Princeton
599 West Princeton Drive
$21,900,000
$82/SF
Building Size
265,000 SF
Asset Type
MultiFamily
Closing
Jan 6, 2026
AI
Ironwood at Princeton is a multifamily community located at 599 West Princeton Drive in Princeton, Texas. The property consists of 306 units and encompasses 265,000 square feet of space.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,900,000
- Lender: Sean Ribble - Nuveen Green Capital
- Lender: Lee McCormick - Lone Star PACE
Sean Ribble from Nuveen Green Capital and Lee McCormick from Lone Star PACE facilitated the financing for this transaction, enabling the implementation of energy- and water-saving improvements at the property, aimed at enhancing its long-term asset value.
Players
Princeton 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93