Updated Jan 9, 2025
Freddie Mac Provides $25.2 Million Loan For Waterstone At Cinco Ranch Multifamily In Katy
6855 South Mason Road
$25,200,000
Units
206
Asset Type
MultiFamily
Closing
Jan 8, 2025
About this deal
AI
The property involved in this transaction is Waterstone at Cinco Ranch, a multifamily apartment complex located at 6855 South Mason Road in Katy, Texas. The asset comprises a total of 206 units, highlighting its capacity as a sizable residential facility. The property has a loan amount of $25,200,000, which reflects its significant value in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,200,000
- Loan Terms: Seven-year, fixed-rate
- Lender: Freddie Mac
- Broker: Greg Duvall - NorthMarq
The financing was facilitated by Greg Duvall of NorthMarq, who originated the loan specifically for the refinancing of the property. The identity of the borrower involved in this transaction has not been disclosed.
On the Map
$25,200,000
MultiFamily
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Players
Katy 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93