Updated Oct 28, 2024
CPC Mortgage Co. Provides $30M Construction Loan For Multifamily Development In San Marcos
Rattler Road, San Marcos, TX, USA
$30,000,000
$68/SF
Building Size
435,600 SF
Asset Type
MultiFamily
Closing
Oct 1, 2021
About this deal
AI
The multifamily property located at Rattler Road @ S Old Bishop in San Marcos has been involved in a recent closed transaction. Spanning across 10 acres of land, the property consists of 216 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Market: San Marcos
- Address: Rattler Road @ S Old Bishop
- Landlord: Mission Development Group - Tracy Hsu
- Lender: CPC Mortgage Co. - Rafael E. Cestero
- Loan Type: Construction
Rafael E. Cestero from CPC Mortgage Co. facilitated the loan for this transaction. The loan amount for the deal was $30,000,000. Tracy Hsu, representing Mission Development Group, acted as the landlord in the transaction.
Players
San Marcos 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93