Square Mile Capital Provides $45M Refinance Loan For Multifamily Property In Tempe, AZ
FINANCED
$45,000,000
Arizona
See Similar DealsMultiFamily347,380 SF
Financed 10/05/2021
FINANCED
Square Mile Capital Provides $45M Refinance Loan For Multifamily Property In Tempe, AZ
707 S Farmer Ave, Tempe, AZ, USA
See Similar DealsMultiFamily347,380 SF
Financed 10/05/2021
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$129
Total Square Footage:347,380 SF
Transaction Type:Loan
A multifamily property located at 707 S. Farmer Ave in Tempe, AZ was recently involved in a closed transaction. The property has a total square footage of 347,380 and is situated in the Tempe market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $45,000,000
The loan for this transaction was provided by Square Mile Capital. The loan amount was $45,000,000, and it was a refinance loan. The loan terms were structured as 2+1+1+1.
The brokers representing this deal were David Bollag, Drew Anderman, and Jared Fried from Meridian Capital Group.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$45,000,000.00
Monthly NOI$300,000.00
Monthly Debt Service$284,430.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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