Project Description
Multi-Family Residential – Austin, TX
- Status: Performing
- Position: First Lien
- Loan Type: Acquisition / Rehab
- Current Loan Balance: $7,133,350
- Fully Committed Loan Amount: $7,133,350
- Appraised Value: $10,994,448
- Loan to Value Ratio: 64.9%
- Current Interest Rate: 9.45%
- Interest Rate Index: WSJP + 6.20%
- Interest Rate Floor: 9.45%
- Origination Date: June 24, 2020
- Maturity Date: January 1, 2022
- Term: 18 months
- % of Portfolio: 9.2%
Barton Springs Apartments is a 98% occupied, 40-unit multi-family property located in central Austin. This loan was paid off in full in Q1 2021.
