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JCI Residential Secures $47.6M Construction Loan For Multifamily Project On Turtle Creek Blvd

Property Image
FINANCED
$47,600,000

Texas

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MultiFamily
Financed 01/13/2021
the dealdetailscomps
Property Image
FINANCED

JCI Residential Secures $47.6M Construction Loan For Multifamily Project On Turtle Creek Blvd

735 Turtle Creek Boulevard, Austin, TX, USA

See Similar Deals
MultiFamily
Financed 01/13/2021
the dealdetailscomps

Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 735 Turtle Creek Boulevard in Austin has been involved in a recent transaction. The property consists of 307 units and was acquired through a construction loan.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $47,600,000
  • Address: 735 Turtle Creek Boulevard, 6020 & 6102 S. 1st Street
  • Market: Austin

The landlord of the property is JCI Residential. The lender for the transaction is KeyBank, represented by Hector Zuniga, Keven Ruf, and Robbie Lynn.

With a loan amount of $47,600,000, the transaction involved a construction loan for the multifamily property located at 735 Turtle Creek Boulevard in Austin.

Details

FINANCED
IMAGE: Hector Zuniga, & Robbie Lynn DATE: 01/13/2021 ADDRESS: 735 Turtle Creek Boulevard, 6020 & 6102 S. 1st Street MARKET: Austin ASSET TYPE: Multifamily UNITS: 307 LANDLORD: JCI Residential LENDER: KeyBank - Hector Zuniga, Keven Ruf, & Robbie Lynn LOAN AMOUNT: $47,600,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$47,600,000.00

Monthly NOI$317,333.33
Monthly Debt Service$300,864.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00