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659 Ninth Ave, San Diego, C...

Updated Oct 29, 2024

Koman Group Secures Loan From ACORE Capital For Mixed-Use Property In San Diego
FINANCEDMixed-use

Koman Group Secures Loan From ACORE Capital For Mixed-Use Property In San Diego

659 Ninth Ave, San Diego, CA, 92101

Building Size

—

Asset Type

Mixed-use

Closing

May 10, 2021

About this deal

AI

The mixed-use property located at 659 Ninth Ave, San Diego, CA, 92101, was the subject of a recent transaction involving a loan deal. The property is situated in the San Diego market and the borrower, Koman Group, secured financing through ACORE Capital.

Summary of transaction details:

The borrower's representative in this transaction was Mark McGovern from CBRE. ACORE Capital served as the lender in this deal, facilitating the financial aspects of the transaction.

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Mixed-use

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Players

Mark McGovern

CBRE

Broker

$237M

vol

4 deals

Broker
Acore Capital
Acore CapitalLender
Cisterra Development
Cisterra DevelopmentLandlord
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San Diego Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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