Updated Oct 28, 2024
Pacific6 Enterprises Secures $55 Million Loan For Long Beach Multifamily Property
110 West Ocean Boulevard, Long Beach, California 90802, United States
$55,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 25, 2022
About this deal
AI
The multifamily property located at 110 West Ocean Boulevard in Long Beach has been involved in a loan transaction. The loan amount for this transaction is $55,000,000.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $55,000,000
The lender for this transaction is X-Caliber Funding represented by Chris Callahan, along with CastleGreen Finance represented by Sal Tarsia. The landlord of the property is Pacific6 Enterprises represented by John Molina. The broker involved in this deal is Matt Raptosh from Berkadia.
On the Map
$55,000,000
MultiFamily
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Players
Long Beach 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93