First Republic Bank Provides $70M Loan For Inglewood Market Gateway Development Project
213 East Regent Street, Inglewood, CA 90301, USA
$70,000,000
$269/SF
Building Size
260,012 SF
Asset Type
Development Site
Closing
Sep 29, 2019
AI
Inglewood Market Gateway, a transit-oriented mixed-use development, has been closed on a 2.77-acre site in Inglewood. The property, located at 213 E. Regent Street, consists of 242 units and approximately 48,000 square feet of ground-floor retail space. The deal was facilitated by developers Thomas Safran & Associates and Black Equities.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $70,000,000
- Units: 242
The loan for the Inglewood Market Gateway project was secured from First Republic Bank. Brian Bowis and Anthony Muhlstein from Newmark Knight Frank served as the brokers for the deal.
Players
Inglewood Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93