Presidio Capital Partners Secures $61 Million Loan For Park Center Apartments In Bakersfield
11325 Park Square Drive
$61,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 18, 2025
AI
The asset involved in the transaction is a multifamily project located at 11325 Park Square Drive, Bakersfield, which includes 352 residential units. The development is set to receive funding through a $61 million construction loan for its first phase, which encompasses 17 residential buildings along with resort-style amenities such as two pools, a fitness center, and a clubhouse.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $61,000,000
- Loan Type: Construction
- Loan Terms: four-year, floating-rate, interest-only
- Landlord: John Blair - Presidio Capital Partners
- Brokers: Tom Turnage & Alex Gregoire - Bellwether Enterprise (BWE)
- Market: Bakersfield
The deal was facilitated by Bellwether Enterprise, which secured the construction loan from a super-regional bank on behalf of Presidio Capital Partners. This partnership aims to develop luxury multifamily housing in the growing area of Bakersfield’s Seven Oaks.
Players
Bakersfield MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93