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JLL Capital Markets Secures $69M Construction Loan For Multifamily Property In San Leandro, CA

Property Image
FINANCED
$69,000,000
Spencer Bergthold
Brandon Roth

California

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MultiFamily
Financed 10/20/2022
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Property Image
FINANCED

JLL Capital Markets Secures $69M Construction Loan For Multifamily Property In San Leandro, CA

1188 East 14th Street, San Leandro, California 94577, United States

See Similar Deals
MultiFamily
Financed 10/20/2022
Spencer Bergthold
Brandon Roth
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

A construction loan was secured for a multifamily property located at 1188 East 14th St in San Leandro, CA. The property consists of 196 units and the loan amount is $69,000,000. Principal Real Estate Investors provided the loan for the project.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $69,000,000
  • Address: 1188 East 14th St, San Leandro, CA
  • Market: San Leandro, CA
  • Asset Type: Multifamily
  • Units: 196

The landlords involved in the transaction are Martin Group, Sansome Pacific Properties, and STARS REI. The brokers who represented the parties in the deal were Brandon Roth, Spencer Bergthold, and Elijah Lax from JLL Capital Markets.

Players

Brandon Roth
JLL
Brandon Roth
4 deals$537.3M volume
BROKER
Spencer Bergthold
JLL
Spencer Bergthold
3 deals$291M volume
BROKER
Principal Real Estate Investors
Principal Real Estate Investors
LENDER
SP
Sansome Pacific Properties
LANDLORD
SR
STARS REI
LANDLORD

Details

FINANCED
IMAGE: Brandon Roth, Spencer Bergthold & Elijah Lax DATE: 10/20/2022 ADDRESS: 1188 East 14th St MARKET: San Leandro, CA ASSET TYPE: Multifamily ~ UNITS: 196 LENDER: Principal Real Estate Investors LANDLORD: Martin Group, Sansome Pacific Properties (@SansomePacific) & STARS REI BROKERS: Brandon Roth, Spencer Bergthold (@SpenceBergthold) & Elijah Lax (@Elijah_Lax) - JLL Capital Markets (@JLL) LOAN AMOUNT: $69,000,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$69,000,000.00

Monthly NOI$460,000.00
Monthly Debt Service$436,126.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00