Updated Oct 28, 2024
Bellwether Enterprises Provides $36.7M Construction Loan For Multifamily Property In Von Ormy, TX
Somerset Rd & Von Ormy Road, San Antonio, TX, USA
$36,700,000
Units
348
Asset Type
MultiFamily
Closing
Oct 25, 2021
About this deal
AI
Located at Somerset Rd & Fischer Rd in Von Ormy, this multifamily property consists of 348 units. The transaction took place on October 25, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $36,700,000
- Address: Somerset Rd & Fischer Rd
- Market: Von Ormy
- Units: 348
Ned Huffman from Bellwether Enterprises provided the construction loan of $36,700,000 for this project. The borrower, Galaxy Builders Ltd, was represented by Neilesh Verma.
The multifamily loan at Somerset Rd & Von Ormy Road, San Antonio, TX, USA in Von Ormy, Texas financed for $36.7M in 2021. Reported inventory is 348 units across 348 units. This page is the Von Ormy, Texas file for the Somerset Rd & Von Ormy Road, San Antonio, TX, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Von Ormy sit in the Market section below. Filter that Von Ormy multifamily set by closing date to see what else financed near Somerset Rd & Von Ormy Road, San Antonio, TX, USA around 2021. Published consideration for Somerset Rd & Von Ormy Road, San Antonio, TX, USA is $36.7M, dated 2021. Cite this Bellwether Enterprises Provides $36.7M Construction Loan For Multifamily Property In Von Ormy, TX loan when underwriting similar multifamily product around Von Ormy, Texas.
Players
Von Ormy 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93