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
$17,000,000
$85/SF
Building Size
199,368 SF
Asset Type
MultiFamily
Closing
Nov 3, 2021
AI
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.
Players
Humble 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93