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659 Ninth Ave, San Diego, C...

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

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.

Players

Mark McGovern

CBRE

Broker

$237M

vol

4 deals

Broker
Acore Capital
Acore CapitalLender

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