Partin Properties LLC Refinances Humble Multifamily Property With $27.6M Loan From Greystone - Eric Rosenstock
FINANCED
$27,600,000
Texas
See Similar DealsMultiFamily1,343 SF
Financed 08/17/2020
FINANCED
Partin Properties LLC Refinances Humble Multifamily Property With $27.6M Loan From Greystone - Eric Rosenstock
9393 Farm-to-Market 1960 Bypass West, Humble, TX 77338
See Similar DealsMultiFamily1,343 SF
Financed 08/17/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$20,551
Total Square Footage:1,343 SF
Transaction Type:Loan
The multifamily property located at 9393 Farm to Market 1960 Bypass Rd W in Humble has been refinanced for a loan amount of $27,600,000. The property consists of 228 units and is owned by Partin Properties LLC. The loan was provided by greystone''>Greystone, with Eric Rosenstock representing the lender. The loan is structured with a fixed interest rate and a 35-year term and amortization schedule.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,600,000
- Address: 9393 Farm to Market 1960 Bypass Rd W, Humble
- Market: Humble
- Units: 228
- Landlord: Partin Properties LLC
- Lender: Greystone - Eric Rosenstock
This refinancing deal involved the collaboration between Partin Properties LLC as the landlord and Greystone with Eric Rosenstock as the lender. The refinanced loan has been structured with a fixed interest rate and a 35-year term and amortization schedule.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,600,000.00
Monthly NOI$184,000.00
Monthly Debt Service$174,450.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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