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4040 Schanen Boulevard

Daryl Wilson Of Fidelity Bancorp Funding Provides $7.8M Refinance Loan For Multifamily At 4040 Schanen Boulevard
FINANCEDMultiFamily

Daryl Wilson Of Fidelity Bancorp Funding Provides $7.8M Refinance Loan For Multifamily At 4040 Schanen Boulevard

4040 Schanen Boulevard

$7,800,000

Building Size

Asset Type

MultiFamily

Closing

Feb 22, 2026

AI

The asset involved in the transaction is a multifamily property comprising 226 units located at 4040 Schanen Boulevard in the Corpus Christi market. The loan amount secured for this asset is $7,800,000, with a loan type classified as refinance, and the terms set for a duration of 2 years.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,800,000
  • Loan Type: Refinance
  • Loan Terms: 2 years
  • Lender: Daryl Wilson - Fidelity Bancorp Funding
  • Landlord: Teresa Nazareth - Nazareth Properties

This transaction features Daryl Wilson representing the lender Fidelity Bancorp Funding, and Teresa Nazareth representing the landlord Nazareth Properties. Their roles were integral to facilitating the refinance of the multifamily asset in question.

Players

Fidelity Bancorp Funding
Fidelity Bancorp FundingLender

Daryl Wilson

Fidelity Bancorp Funding

Originator

$11.3M

vol

3 deals

Originator

Corpus Christi 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

2.03%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93