Updated Mar 11, 2025
Related California Secures $690M Construction Loan For 1650-unit Development Site In Santa Clara
2300 Calle De Luna, Santa Clara, California 95054, United States
$690,000,000
Units
1,650
Asset Type
Development Site
Closing
Aug 18, 2022
About this deal
AI
The development site located at 2300 Calle de Luna in Santa Clara has been involved in a closed property transaction. The property, which is a development site, consists of 1650 units. The transaction took place on August 19, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $690,000,000
- Market: Santa Clara
- Lender: Otera Capital, PNC Bank & welltower''>Welltower Inc.
- Landlord: Related California (Related Companies) - Bill Witte
- Loan Type: Construction
The lender for this transaction included Otera Capital, PNC Bank, and Welltower Inc. The landlord, representing the property, is Related California (Related Companies) with Bill Witte as their representative. The loan amount for this transaction was $690,000,000, and the loan type was construction.
Players
Santa Clara 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
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93