Lightstone Capital Provides $49M Loan For Mixed-Use Properties In Santa Monica & Sawtelle
FINANCED
$49,000,000
California
See Similar DealsMixed-use
Financed 04/13/2022
FINANCED
Lightstone Capital Provides $49M Loan For Mixed-Use Properties In Santa Monica & Sawtelle
701 Colorado Avenue, Santa Monica, California 90404, United States
See Similar DealsMixed-use
Financed 04/13/2022
Summary
CALIFORNIA
Asset Type:Mixed-use
Transaction Type:Loan
The recent closed transaction involved a mixed-use property located at 701 Colorado Avenue, as well as 1421 and 1427 Barry Ave in Santa Monica and Sawtelle market. The property is valued at $49,000,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $49,000,000
- Loan: Lightstone Capital - Eugene Rozovsky
- Landlord: WS Communities - Alexander Shekhter, Adam Shekhter, & Scott Walter; NMS Residential - Neil Shekhter
- Brokers: Justin Piasecki & Richard Sutton - Lev; Rahim Thobani - RST Capital Partners
The deal was facilitated by Lightstone Capital, represented by Eugene Rozovsky as the lender. WS Communities, represented by Alexander Shekhter, Adam Shekhter, and Scott Walter, along with NMS Residential, represented by Neil Shekhter, acted as the landlords in the transaction. The brokers involved were Justin Piasecki and Richard Sutton from Lev, and Rahim Thobani from RST Capital Partners.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$49,000,000.00
Monthly NOI$326,666.67
Monthly Debt Service$309,713.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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