Updated Oct 28, 2024
Trans Pacific Construction Inc Refinances Multifamily Properties In Amarillo & Wichita Falls For $16.1M With Lument Financing
Amarillo, Texas, United States
$16,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 19, 2022
About this deal
AI
Trans Pacific Construction Inc has refinanced their multifamily properties in Amarillo & Wichita Falls. The loan was provided by lument''>Lument, with Owen Breheny acting as the representative from Lument. The refinancing loan amount was $16,100,000. Doug Solether from Commercial Real Estate Finance Co. of America represented the borrower in the deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,100,000
- Market: Amarillo & Wichita Falls
- Lender: Lument - Owen Breheny
- Landlord: Trans Pacific Construction Inc
- Broker: Doug Solether - Commercial Real Estate Finance Co. of America
The refinancing loan provided by Lument, facilitated the transaction for Trans Pacific Construction Inc in Amarillo & Wichita Falls. Doug Solether, representing Commercial Real Estate Finance Co. of America, played a key role in the deal.
Players
Amarillo 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93