KeyBank Community Development Lending & Investment Provides $44.2M Loan For River Oaks Family Apartments Development Site
FINANCED
$44,200,000
California
See Similar DealsDevelopment Site
Financed 01/10/2023
FINANCED
KeyBank Community Development Lending & Investment Provides $44.2M Loan For River Oaks Family Apartments Development Site
700 Bogue Road, Yuba City, California 95991, United States
See Similar DealsDevelopment Site
Financed 01/10/2023
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Loan
River Oaks Family Apartments, located at 700 Bogue Rd in Plumas Lake, has recently undergone a property transaction involving a development site. The transaction was completed on 01/10/2023.
Summary of transaction details:
- Asset Type: Development Site
- Loan Amount: $44,200,000
- Lender: KeyBank Community Development Lending & Investment
- Landlord: Pacific West Communities - William D. Pennington
- Market: Plumas Lake
William D. Pennington, representing Pacific West Communities, acted as the landlord in the transaction. KeyBank Community Development Lending & Investment provided the loan amount of $44,200,000.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,200,000.00
Monthly NOI$294,666.67
Monthly Debt Service$279,374.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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