UrbanCore Development, E. Smith & Company, Oakland Economic Development Corporation & Red Stone Equity Partners Secure $153.6M Construction Loan For 387-Unit Multifamily Property In Elk Grove, CA
FINANCED
$153,600,000
California
See Similar DealsMultiFamily
FINANCED
UrbanCore Development, E. Smith & Company, Oakland Economic Development Corporation & Red Stone Equity Partners Secure $153.6M Construction Loan For 387-Unit Multifamily Property In Elk Grove, CA
10149 Bruceville Road, Elk Grove, California 95757, United States
See Similar DealsMultiFamily
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 10149 Bruceville Road in Elk Grove, CA has been involved in a closed transaction. The property spans across 16.73 acres and consists of 387 units.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $153,600,000
- Address: 10149 Bruceville Road
- Market: Elk Grove, CA
- Units: 387
- Acres: 16.73
The loan for this transaction was provided by Greystone, represented by Ken Rogozinski, and America First Multifamily Investors, represented by Frank Bravo. The loan amount was $153,600,000, and it was a construction loan with a 15-year term and a 40-year amortized facility.
The landlords involved in this transaction are UrbanCore Development, E. Smith & Company, Oakland Economic Development Corporation, and Red Stone Equity Partners.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$153,600,000.00
Monthly NOI$1,024,000.00
Monthly Debt Service$970,856.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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