Updated Aug 20, 2026
S3 Capital Provides $28 Million Construction Loan For 111-Unit Multifamily Development In Friendswood TX
$28,000,000
$252/SF
Building Size
110,860 SF
Asset Type
MultiFamily
Closing
Jun 30, 2026
About this deal
AI
The property involved in this transaction is a multifamily asset located in Friendswood, TX. It spans a total square footage of 110,860 and consists of 111 units. The financing for this asset comes in the form of a construction loan amounting to $28,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,000,000
- Location: Friendswood, TX
- Square Footage: 110,860
- Units: 111
- Lender: Robert Schwartz & Steven Jemal - S3 Capital
- Loan Type: Construction
- Note from Lender: Ground-up construction of 111-unit mixed-use rental. First S3 Loan in the Houston MSA.
Robert Schwartz and Steven Jemal, representing S3 Capital, are active in financing multifamily transactions, focusing on loan opportunities exceeding $1 million across various markets from New York to Texas.
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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93