Jeffrey Rosenfeld And Sean Robertson Secure $42 Million Construction Loan For 257-Unit Multifamily In Katy
$42,000,000
$187/SF
Building Size
224,401 SF
Asset Type
MultiFamily
Closing
Oct 25, 2024
AI
The transaction involves a multifamily asset located in Katy, comprising 257 units with a total square footage of 224,401. The loan type is construction, with a loan amount of $42,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $42,000,000
- Units: 257
- Square Footage: 224,401
- Lender: Jeffrey Rosenfeld & Sean Robertson - North River Partners
- Broker: Ryan Horowitz & Michael Horowitz - Cooper Horowitz
- Date: 10/25/2024
- Market: Katy
The deal involves key players, including brokers Ryan Horowitz and Michael Horowitz, representing Cooper Horowitz, and lenders Jeffrey Rosenfeld and Sean Robertson from North River Partners. This collaboration underscores the professional network facilitating the transaction in the multifamily market.
Players
Market 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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93