Updated Oct 29, 2024
Bellwether Enterprise Provides $13.1M Loan For Garland Multifamily Property
705 W Avenue B, Garland, TX 75040, USA
$13,115,000
$422/SF
Building Size
31,032 SF
Asset Type
MultiFamily
Closing
Sep 16, 2020
About this deal
AI
The multifamily property located at 705 West Avenue B in Garland has secured a loan worth $13,115,000. The lender for this transaction is Bellwether Enterprise Real Estate Capital LLC, represented by Phil Melton and Cindy Hannon.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,115,000
- Market: Garland
- Address: 705 West Avenue B
Phil Melton and Cindy Hannon from Bellwether Enterprise Real Estate Capital LLC acted as the lenders for this loan.
The multifamily loan at 705 W Avenue B, Garland, TX 75040, USA in Garland, Texas financed for $13.1M in 2020. The building is 31,032 square feet, implying about 422 per square foot on the published price. This page is the Garland, Texas file for the 705 W Avenue B, Garland, TX 75040, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Garland sit in the Market section below. Filter that Garland multifamily set by closing date to see what else financed near 705 W Avenue B, Garland, TX 75040, USA around 2020. Published consideration for 705 W Avenue B, Garland, TX 75040, USA is $13.1M, dated 2020. Cite this Bellwether Enterprise Provides $13.1M Loan For Garland Multifamily Property loan when underwriting similar multifamily product around Garland, Texas.
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Garland MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.21%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93