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Jackie Safier Of Prometheus Real Estate Group Secures $80M Construction Loan From J.P. Morgan Chase
FINANCED
$80,000,000
California
See Similar DealsDevelopment Site
Financed 06/18/2025
FINANCED
Jackie Safier Of Prometheus Real Estate Group Secures $80M Construction Loan From J.P. Morgan Chase
5150 El Camino Real
See Similar DealsDevelopment Site
Financed 06/18/2025
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a 3.8-acre development site located at 5150 El Camino Real in the market of Los Altos. The property is set for a multifamily project consisting of 196 units, including 29 affordable units. A construction loan in the amount of $80,000,000 was secured for this development project.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $80,000,000
- Address: 5150 El Camino Real
- Market: Los Altos
- Lender: J.P. Morgan Chase
- Landlord: Jackie Safier - Prometheus Real Estate Group
- Loan Type: Construction
- Acres: 3.8
The construction financing follows Prometheus Real Estate Group's acquisition of the site, which was court-approved in 2021 after the previous developer faced default on a $42 million loan. Jackie Safier represents Prometheus Real Estate Group in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$80,000,000.00
Monthly NOI$533,333.33
Monthly Debt Service$505,654.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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