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First Republic Bank Provides $70M Loan For Inglewood Market Gateway Development Project

Property Image
FINANCED
$70,000,000
Brian Bowis
Anthony Muhlstein

California

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Development Site260,012 SF
Financed 09/30/2019
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Property Image
FINANCED

First Republic Bank Provides $70M Loan For Inglewood Market Gateway Development Project

213 East Regent Street, Inglewood, CA 90301, USA

See Similar Deals
Development Site260,012 SF
Financed 09/30/2019
Brian Bowis
Anthony Muhlstein
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$269
Total Square Footage:260,012 SF
Transaction Type:Loan

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:

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

Brian Bowis
Newmark
Brian Bowis
4 deals$139.3M volume(310) 407-6598
BROKER
Anthony Muhlstein
Newmark
Anthony Muhlstein
25 deals$1.1B volume
BROKER
First Republic Bank
First Republic Bank
LENDER

Details

FINANCED
IMAGE: Brian Bowis, Anthony Muhlstein, Stanley Black, Zach Zalben, Thomas Safran & Jordan Pynes DATE: 09/30/2019 ADDRESS: 213 E. Regent Street MARKET: Inglewood ASSET TYPE: Development Site LENDER: First Republic Bank LANDLORD: Black Equities and Thomas Safran & Associates BROKERS: Brian Bowis, Anthony Muhlstein - Newmark Knight Frank LOAN AMOUNT: $70,000,000 UNITS: 242 NOTES: Inglewood Market Gateway is a transit-oriented mixed-use development on a 2.77-acre site featuring 242 units and approximately 48,000 square feet of ground-floor retail. Developers: Thomas Safran & Associates, Black Equities.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$70,000,000.00

Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00