Paul Salib Of Castellan Real Estate Partners Secures $18.53M Refinance Loan For Houston Multifamily
$18,530,000
$65/SF
Building Size
283,402 SF
Asset Type
MultiFamily
Closing
Jan 5, 2026
AI
The property asset involved in this transaction is a multifamily building located in Houston, comprising 442 units and a total square footage of 283,402. The asset was financed through a refinancing loan amounting to $18,530,000 over a term of 2 years.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $18,530,000
- Market: Houston
- Asset Units: 442
- Asset Square Footage: 283,402
- Lender: Paul Salib - Castellan Real Estate Partners
- Broker: Steven Helmreich - Crossmark Capital
- Loan Type: Refinance
- Loan Terms: 2 Years
Key individuals involved in this transaction include Paul Salib, representing Castellan Real Estate Partners as the lender of the refinancing, and Steven Helmreich from Crossmark Capital, who acted as the broker for the deal.
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
0.86%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93