Updated Nov 27, 2024
Berkadia Provides $255M Loan For Multifamily Property In Newport Beach
California 1, Newport Beach, CA, USA
$255,000,000
$69,105/SF
Building Size
3,690 SF
Asset Type
MultiFamily
Closing
Jul 9, 2020
About this deal
AI
Located in Newport Beach, the multifamily property at 1 Park Newport recently underwent a closed transaction. The property, consisting of 1,306 units, was the subject of a loan deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $255,000,000
- Address: 1 Park Newport
- Market: Newport Beach
The lender for this transaction was berkadia''>Berkadia, providing a loan amount of $255,000,000. The property is owned by Gerson Bakar & Associates, serving as the landlord.
No further details are available regarding the loan, landlord, or any other individuals involved in the deal.
On the Map
$255,000,000
$69,105/SF
MultiFamily
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Players
Corona Del Mar MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93