Gregory Vassilakos & Dimitri P. Venekas Of Cosmos Capital Group Arrange $17M Bridge Loan For Multifamily Property In Humble, TX
FINANCED
$17,000,000
Texas
See Similar DealsMultiFamily199,368 SF
Financed
FINANCED
Gregory Vassilakos & Dimitri P. Venekas Of Cosmos Capital Group Arrange $17M Bridge Loan For Multifamily Property In Humble, TX
7150 Foxbrick Lane, Humble, TX, USA
See Similar DealsMultiFamily199,368 SF
Financed
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$85
Total Square Footage:199,368 SF
Transaction Type:Loan
The multifamily property located at 7150 Foxbrick Lane in Humble, TX has recently undergone a closed transaction. The property spans a total of 199,368 square feet and consists of 212 units, making it an attractive investment in the local market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Loan Type: Bridge Loan
- Loan Terms: Bridge Loan
- Lender: Royal Business Bank
- Brokers: Gregory Vassilakos & Dimitri P. Venekas from Cosmos Capital Group
The Bridge Loan, provided by Royal Business Bank, played a crucial role in facilitating the transaction. The loan amount of $17,000,000 allowed the buyer to secure the property and pursue their investment goals. Represented by Gregory Vassilakos and Dimitri P. Venekas of Cosmos Capital Group, the successful deal highlights the expertise and dedication of these brokers in serving their clients.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,000,000.00
Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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