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
$350,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 4, 2023
AI
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
San Francisco 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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93