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
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