Freddie Mac Finances Harbor Group's Refinance Loan For Multifamily Asset In Houston At $28.37M
12850 Whittington Drive
$28,372,000
$189/SF
Building Size
150,000 SF
Asset Type
MultiFamily
Closing
Aug 7, 2024
AI
The property involved in this transaction is a multifamily asset located at 12850 Whittington Drive in Houston. The asset comprises 556 units and encompasses a total of 150,000 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,372,000
- Lender: Freddie Mac
- Landlord: Harbor Group
- Loan Type: Refinance
- Loan Terms: Agency Execution | 5yr Term | 103 Spread | 3yrs IO
The brokers representing the transaction are Matthew Mense, Ari Schwartzbard, William Weber, Henry Stimler, Ricky Warner, and Daniel Sarsfield, all from Newmark.
Players
Houston 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93