Loan amount
$2,000,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$7,700,000
{PP:$8,000,000}
LTV
26%
{LTV}
Property type
Other Commercial
Borrower Details
Credit score
600
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Houston
State
Texas
Loan Details
Purchase price
$8,000,000
Down payment
$6,000,000
Additional Loan Information
Purchase & rent-hold of a 64-unit transitional/halfway house (190 beds), 1963 build / 2011 reno, currently 84% occupied. Property operates under a state reentry program with government-backed per-bed revenue. In-place NOI = $770k (T6/T12); path to $795k stabilized within 6–12 months via fill and light turns. Purchase price $8.0M (FMV = $7.7M at a 10% cap on in-place NOI). Borrower bringing up to $6.0M equity; seeking a $2.0M senior acquisition loan (25% LTV). Business plan: maintain compliance, raise occupancy >90%, preserve stable cash yield, then refi in 36-48 months. Even at 7-9% debt, DSCR on a $2.0M loan is 4–5.5x (higher with IO). Strong equity, specialized management, limited capex.
Status
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Created
August 26, 2025 - 11:17pm
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