Buchanan Mortgage Holdings Provides $55M Loan For Land, Office & Multifamily Portfolio In San Diego, Hermosa Beach, & Rancho Cordova
Rancho Cordova, California, United States
$55,000,000
Building Size
—
Asset Type
—
Closing
Sep 29, 2022
AI
The recent transaction involved a portfolio of properties in San Diego County, Hermosa Beach, and Rancho Cordova, California. The portfolio comprised of land, office, and multifamily assets. The loan for this transaction was provided by Buchanan Mortgage Holdings, LLC, with Scott Magoffin representing the lender.
Summary of transaction details:
- Property Type: Land, Office & Multifamily
- Transaction Amount: $55,000,000
- Lender: Buchanan Mortgage Holdings, LLC - Scott Magoffin
This transaction showcases the diverse property types involved, including land, office spaces, and multifamily units. The loan amount of $55,000,000 indicates the significant financial aspect of this deal. Scott Magoffin, representing Buchanan Mortgage Holdings, LLC, played a vital role in facilitating this transaction.
Players
Rancho Cordova CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93