JCI Residential Secures $47.6M Construction Loan For Multifamily Project On Turtle Creek Blvd
735 Turtle Creek Boulevard, Austin, TX, USA
$47,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 12, 2021
AI
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.
Players
Austin 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
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93