Multi-housing / PRS

$22.5 Million Non-Performing Multifamily Loan

000 Avenue Various, Texas United States
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Confidentiality Agreement
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Property description

The Loan was originated in September 2016 and has a total payoff amount of $22,560,997. It was originally structured with a 24-month term and two six-month extension options. Given the execution of several forbearances, the Loan now matures at the end of December 2020. It carries a floating rate of L + 10.35% with interest-only payments calculated on an Actual / 360 day-count basis and a default rate of 18%.

Investment highlights

Jones Lang Lasalle (“JLL”) has been retained by the Seller on an exclusive basis to arrange the sale of a $22.5 million multifamily loan (the “Loan”) secured by the first mortgage on a low-rise/garden apartment asset located in Houston (the “Property” or the “Collateral”).
Last Updated Date: 19 Nov 2020
Tom Hall
Tom Hall
Managing Director, Capital Markets
+63282312281
Bill Butler
Analyst
+63282312281
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+63282312281
Last Updated Date: 19 Nov 2020

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