Navika Capital Group Refinances Three-Property Portfolio In Dallas-Fort Worth With $16.2M Loan From Prosperity Bank
5601 Bridge Street, Fort Worth, TX, USA
$16,200,000
Building Size
—
Asset Type
Office
Closing
May 9, 2021
AI
An office and retail property portfolio located at 5601 Bridge Street, 1705 W Northwest Highway, and 3250 W Pleasant Run Road in Dallas-Fort Worth, Texas has undergone a refinancing transaction.
Summary of transaction details
- Asset Type: Office & Retail
- Loan Amount: $16,200,000
- Loan Type: Refinance
- Loan Terms: Crossed three (3) property portfolio, 5-year term, fixed rate of 3.99% featuring 12 months of interest-only payments and flexible prepayment penalty structure
Navika Capital Group, the landlord of the property, worked with Prosperity Bank as the lender to secure the loan for the portfolio. The broker representing Navika Capital Group in the deal was Brandon Harris from BlackBearCapitalPartners.
Players
Fort Worth Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93