Key Bank Provides $33.9M Bridge Loan For Multifamily Property In San Antonio

Timberhill Commons, Ltd. has secured a bridge loan for the property located at 5072 Timberhill Drive in San Antonio. The loan was provided by Key Bank and facilitated by Charles Foschini of Berkadia.

Summary of transaction details:

• Property Type: Multifamily
• Loan Amount: $33,900,000
• Loan Type: Bridge
• Loan Terms: Three-year, floating rate loan with two 1-year extension options and a 70 percent LTV

The property at 5072 Timberhill Drive received a bridge loan of $33,900,000 from Key Bank. The loan has a term of three years, with the option to extend for an additional two 1-year periods. The loan is a floating rate loan and has a loan-to-value (LTV) ratio of 70 percent. Charles Foschini from Berkadia represented Timberhill Commons, Ltd. in the loan transaction.