Medistar Corporation Secures $135.85M Construction Loan For Student Housing On Holcombe Blvd In Houston
1020 Holcombe Boulevard, Houston, TX 77030, USA
$135,850,000
$460/SF
Building Size
295,000 SF
Asset Type
Other
Closing
Jul 12, 2020
AI
Medistar Corporation has secured a construction loan of $135,850,000 for a student housing project located at 1020 Holcombe Blvd in Houston. Spanning across 5 acres, this property asset is owned by Medistar Corporation and serves as an ideal location for student accommodation.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $135,850,000
- Address: 1020 Holcombe Blvd
- Market: Houston
- Acres: 5
The lender for this construction loan is CIM Group, a reputable financial institution specializing in real estate investments. This loan will provide the necessary funds for the development of the student housing project. The collaboration between Medistar Corporation and CIM Group demonstrates the commitment to providing quality accommodation for students in Houston.
Players
Houston Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93