StoneCreek Real Estate Partners Refinances North Richland Hills Senior Housing For $28.25M
8505 Mid Cities Boulevard, North Richland Hills, TX 76182
$28,250,000
$126/SF
Building Size
222,679 SF
Asset Type
Other
Closing
Oct 26, 2021
About this deal
AI
An image of the property located at 8505 Mid Cities Blvd in North Richland Hills is shared on Instagram by Tyler Armstrong. The property is a senior housing asset with a total of 96 units.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Date: 10/26/2021
- Address: 8505 Mid Cities Blvd
- Market: North Richland Hills
- Units: 96
The loan for the property was secured from greystone''>Greystone. StoneCreek Real Estate Partners is the landlord of this property. The broker involved in this transaction is Tyler Armstrong from Greystone.
The loan amount for this transaction is $28,250,000. The loan type is a refinance. The loan terms include a non-recourse structure, an adjustable rate with a 10-year term, a 30-year amortization, and five years of interest-only payments.
On the Map
$28,250,000
$126/SF
Other
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North Richland Hills Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93