Robb Capital Facilitates $18 Million Financing for Mandalay Palms Apartments
Date: On June 30, 2017, Robb Capital proudly announced the successful arrangement of a significant $18,000,000 financing package for Mandalay Palms Apartments, a remarkable multifamily complex consisting of 600 units in the dynamic city of Dallas, Texas.
Property Details:
– Property Name: Mandalay Palms Apartments
– Property Type: Mandalay Palms Apartments is a distinguished multifamily building, offering a diverse range of residential units to meet the housing needs of the community.
– Loan Amount: The financing deal secured a substantial $18,000,000.
– Interest Rate: This financing package offers the stability and predictability of a favorable fixed rate, set at 4.24%, ensuring that the borrower can confidently manage their financial obligations.
– Amortization Period: With a 30-year amortization period, this financing arrangement enhances the overall structure, providing valuable flexibility and long-term financial sustainability.
– Term: The financing features a 10-year term, including two years of interest-only payments followed by 30 years of amortization. This alignment with the borrower’s financial objectives maximizes their ability to manage the investment effectively.
– Type of Program: The financing is strategically structured under the Fannie Mae DUS program, renowned for its reliability, financial backing, and commitment to excellence.
– Loan to Value (LTV): The loan-to-value ratio of 65% establishes favorable terms, enabling the borrower to leverage their investment efficiently.
– Number of Units: Mandalay Palms Apartments boasts an impressive portfolio of 600 residential units, further solidifying its presence as a significant rental property in the Dallas area.
– Address: Conveniently located at 7501 Chesterfield Dr, Dallas, Texas 75237, USA, this property is strategically positioned to capture the essence of prime real estate investment in a thriving locale.
Robb Capital is immensely honored to have played a pivotal role in securing the $18 million financing for Mandalay Palms Apartments. This accomplishment underscores our unwavering commitment to facilitating successful financing arrangements that empower investors and property owners alike, contributing to the continued success and prosperity of this multifamily asset in the vibrant city of Dallas, Texas.
