MULTI FAMILY LOANS
749 Unit package deal in Texas. 3 separate properties. This deal is a value add deal! Rents has not been raised in YEARS. Stabilized value of $90M (749 units). Sale Price of $65M REDUCED TO $62M. Owner financing available 37M for 5 years @ 5%. That’s $27M down, plus buyer pays all closing costs to purchase all 749 units. 10K per door to rehab estimated cost is $7.5M (on the high side). All in is $68-70M plus closing costs.