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6289 Palm Avenue, Riverside...

Northmarq Brokers Secure $10.5M Loan For Self Storage Property In Riverside, CA
FINANCED

Northmarq Brokers Secure $10.5M Loan For Self Storage Property In Riverside, CA

6289 Palm Avenue, Riverside, California 92506, United States

$10,500,000

Building Size

Asset Type

Closing

Oct 10, 2022

AI

Located at 6289 Palm Avenue in Riverside, CA, this self-storage facility was recently involved in a closed transaction. The property is characterized by its convenient location and serves as a valuable asset in the market.

Summary of transaction details

  • Property Type: Self Storage
  • Transaction Amount: $10,500,000
  • Loan Terms: 15-year loan, interest-only payments, followed by a 30-year amortization
  • Brokers: Wyatt Campbell & Aaron Beck representing Northmarq

Wyatt Campbell and Aaron Beck from Northmarq played integral roles in this transaction. Their expertise and professionalism contributed to the successful closing of this deal.

Players

Wyatt Campbell

NorthMarq

Broker

$222.3M

vol

6 deals

Broker

Riverside CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.51%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93