Dee Malkerneker Secures $1.34M Loan For Multifamily Property On Ross Avenue

An apartment building located at 6051 Ross Avenue in the Lower Greenville area of Dallas has recently been involved in a transaction. The multifamily property was acquired by a landlord named Dee Malkerneker. The transaction was financed by a loan from a local bank. The loan amount was $1,340,000, and the terms of the loan included a 75% loan-to-value ratio and 2 years of interest-only payments. The property is situated in a desirable market, which adds to its value and potential for future returns.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,340,000
• Address: 6051 Ross Avenue
• Market: Lower Greenville, Dallas

The transaction was facilitated by two brokers. John Brickson from Old Capital represented the landlord in securing the debt financing, while Byron Griffith from Greystone ISG served as the listing broker.

It's worth noting that the property has a sub 1.0x going in Debt Service Coverage Ratio (DSCR), which suggests that the property may have a lower net operating income compared to its outstanding debt.