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Old Capital Arranges $10.48M Bridge Loan For Multifamily Property In San Antonio

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FINANCED
$10,480,000

Texas

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MultiFamily8,216 SF
Financed 04/14/2021
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FINANCED

Old Capital Arranges $10.48M Bridge Loan For Multifamily Property In San Antonio

6111 Vance Jackson Rd, San Antonio, TX, USA

See Similar Deals
MultiFamily8,216 SF
Financed 04/14/2021
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Summary

TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$1,275
Total Square Footage:8,216 SF
Transaction Type:Loan

The multifamily property located at 6111 Vance Jackson Rd in San Antonio has been involved in a recent transaction. The financing for this property was arranged by Old Capital, with a bridge loan amounting to $10,480,000. The loan terms include 80% loan-to-cost ratio, a 3.95% interest rate, and a 29-day close.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $10,480,000
  • Address: 6111 Vance Jackson Rd
  • Market: San Antonio

John Brickson of Old Capital served as the broker who arranged the financing for this transaction, while Drew Garza represented the seller as an IPA representative.

Players

Drew Garza
37 deals$130.6M volume
BROKER

John Brickson
21 deals$310M volume
BROKER

Details

FINANCED
IMAGE: Drew Garza & John Brickson DATE: 04/14/2021 ADDRESS: 6111 Vance Jackson Rd MARKET: San Antonio ASSET TYPE: Multifamily BROKER: John Brickson (@JBrickson) - Old Capital arranged the financing / Drew Garza - IPA represented the Seller. LOAN AMOUNT: $10,480,000 LOAN TYPE: Bridge Loan LOAN TERMS: 80% LTC / 3.95% Rate / 29 day close

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,480,000.00

Monthly NOI$69,866.67
Monthly Debt Service$66,240.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00