facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

California

/

Multifamily

/

Loan

/

11325 Park Square Drive

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

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

Alex Gregoire

Bellwether Enterprise (BWE)

Broker

$169.4M

vol

2 deals

Broker
Bellwether Enterprise (BWE)
Bellwether Enterprise (BWE)Brokerage

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