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Equity Residential Secures $350M Fannie Mae Credit Facility For Multifamily Portfolio

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FINANCED
$350,000,000

California

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MultiFamily
Financed 12/04/2023
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FINANCED

Equity Residential Secures $350M Fannie Mae Credit Facility For Multifamily Portfolio

1 Saint Francis Place, 1101 Park Place, 2000 N Street Northwest, 285 8th Avenue North & 13800 Newcastle Golf Club Road

See Similar Deals
MultiFamily
Financed 12/04/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

Equity Residential has secured a $350 million, 10-year Fannie Mae credit facility from Regions Bank for its five Class A mid-rise communities, totaling 1,623 units across the U.S. The portfolio includes properties in Washington, D.C., Seattle, and the San Francisco area.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $350,000,000
  • Loan Type: Refinance
  • Loan Terms: fixed-rate, 10-year
  • Lender: Regions Bank
  • Landlord: Equity Residential - Mark Parrell

Equity Residential has successfully secured a $350 million, 10-year Fannie Mae credit facility from Regions Bank for the refinancing of its five Class A mid-rise communities. These communities consist of a total of 1,623 units located in Washington, D.C., Seattle, and the San Francisco area.

Players

Regions Bank
Regions Bank
LENDER
Mark J. Parrell
Equity Residential
Mark J. Parrell
8 deals$857.9M volume
LANDLORD

Details

FINANCED
IMAGE: Mark Parrell DATE: 12/04/2023 ADDRESS: 1 Saint Francis Place, 1101 Park Place, 2000 North Street Northwest, 285 8th Ave North & 13800 Newcastle Golf Club Road MARKET: San Francisco & San Mateo, CA; Washington DC; Newcastle & Seattle, WA ASSET TYPE: Multifamily ~ UNITS: 1,623 LENDER: Regions Bank (@RegionsBank) LANDLORD: Equity Residential (@EquityRes) - Mark Parrell LOAN AMOUNT: $350,000,000 LOAN TYPE: Refinance LOAN TERMS: fixed-rate, 10-year NOTE: Equity Residential secures a $350 million, 10-year Fannie Mae credit facility from Regions Bank for its five Class A mid-rise communities, totaling 1,623 units across the U.S. The portfolio includes properties in Washington, D.C., Seattle, and the San Francisco area.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$350,000,000.00

Monthly NOI$2,333,333.33
Monthly Debt Service$2,212,238.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00