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11325 Park Square Drive

Updated Jun 18, 2025

Presidio Capital Partners Secures $61 Million Loan For Park Center Apartments In Bakersfield
FINANCEDMultiFamily

Presidio Capital Partners Secures $61 Million Loan For Park Center Apartments In Bakersfield

11325 Park Square Drive

$61,000,000

Units

352

Asset Type

MultiFamily

Closing

Jun 18, 2025

About this deal

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.

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$61,000,000

MultiFamily

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Players

Alex Gregoire

Bellwether Enterprise (BWE)

Broker

$169.4M

vol

2 deals

Broker
Bellwether Enterprise (BWE)
Bellwether Enterprise (BWE)Brokerage
John Blair

John Blair

Presidio Capital Partners

Landlord

$61M

vol

2 deals

Landlord
Presidio Capital Partners
Presidio Capital PartnersLandlord
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Bakersfield MultiFamily Market Snapshot

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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

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