Sheridan Capital Facilitates $30.6M Bridge Loan For Multifamily Portfolio In Beaumont & Jasper
FINANCED
$30,615,000
Texas
See Similar DealsMultiFamily
Financed 04/08/2024
FINANCED
Sheridan Capital Facilitates $30.6M Bridge Loan For Multifamily Portfolio In Beaumont & Jasper
6120 Folsom Drive, 5740 Northwest Pkwy & 130 Rosewood Drive, Jasper
See Similar DealsMultiFamily
Financed 04/08/2024
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property, consisting of 472 units, located at 6120 Folsom Drive, 5740 Northwest Parkway, and 130 Rosewood Drive in Beaumont and Jasper, was involved in a recent transaction. The property secured a bridge loan amounting to $30,615,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,615,000
- Address: 6120 Folsom Drive, 5740 Northwest Parkway & 130 Rosewood Drive
- Market: Beaumont & Jasper
- Asset Type: Multifamily
- Units: 472
- Brokers: Michael Yassky & Aaron Kurlansky - Sheridan Capital
- Loan Type: Bridge Loan
Michael Yassky and Aaron Kurlansky from Sheridan Capital represented the parties involved in securing the bridge loan for the multifamily property transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,615,000.00
Monthly NOI$204,100.00
Monthly Debt Service$193,507.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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