Updated Oct 29, 2024
Greystone Provides $32.173M Refinance Loan For Multifamily Property In Humble, Texas
7160 Foxbrick Ln Humble, TX 77338, USA
$32,173,000
Units
412
Asset Type
MultiFamily
Closing
May 10, 2023
About this deal
AI
The Villas at Foxbrick, a 412-unit multifamily property located at 7160 Foxbrick Lane in Humble, Texas, has secured a $32,173,000 Fannie Mae Delegated Underwriting & Servicing loan from Greystone. The non-recourse, fixed-rate financing carries a seven-year term and 30-year amortization. The loan will allow the borrower to refinance and monetize a portion of their equity in the property.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $32,173,000
- Lender: Greystone - Anthony Cristi
- Loan Type: Refinance
- Loan Terms: non-recourse, fixed-rate financing carries a seven-year term and 30-year amortization
Greystone, a commercial real estate finance company, facilitated the $32.173 million loan for The Villas at Foxbrick in Humble, Texas. Anthony Cristi, representing Greystone, assisted in securing the loan for the borrower, enabling them to refinance and unlock the equity in the property.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93