Updated Sep 9, 2024
Meridian Capital Facilitates $28.7M Acquisition Loan For 346-Unit Multifamily Property In Fort Worth
7040 John T White Road, Fort Worth, TX 76120, USA
$28,700,000
$112/SF
Building Size
255,410 SF
Asset Type
MultiFamily
Closing
Sep 27, 2021
About this deal
AI
The property involved in the transaction is a multifamily asset located at 7040 John T White in Fort Worth. It consists of 346 units and has a total square footage of 255,410. The building was constructed in 1985.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $28,700,000
- Loan Type: Acquisition
- Loan Term: 3.3% rate, 80% LTC
The loan for this acquisition was facilitated by Hannah Howard & Jonathan Zilber from the Meridian Capital Group. They represented the parties involved in the deal.
It's important to note that the loan amount of $28,700,000 was secured for the purchase of this multifamily property. The loan provided an 80% loan-to-cost ratio and has a 3.3% interest rate.
Players
Fort Worth 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93