Buchanan Mortgage Holdings Provides $55M Loan For Land, Office & Multifamily Portfolio In San Diego, Hermosa Beach, & Rancho Cordova
FINANCED
$55,000,000
California
See Similar DealsFinanced 09/30/2022
FINANCED
Buchanan Mortgage Holdings Provides $55M Loan For Land, Office & Multifamily Portfolio In San Diego, Hermosa Beach, & Rancho Cordova
Rancho Cordova, California, United States
See Similar DealsFinanced 09/30/2022
Summary
CALIFORNIA
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,000,000.00
Monthly NOI$366,666.67
Monthly Debt Service$347,637.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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