$14.92 Million Loan Secured By First Foundation Bank For 1201 Monte Diablo Ave Multifamily
1201 Monte Diablo Ave
$14,920,000
$265/SF
Building Size
56,300 SF
Asset Type
MultiFamily
Closing
May 26, 2021
AI
The property asset involved in this transaction is a MultiFamily type located at 1201 Monte Diablo Ave in the San Mateo market. The loan amount secured for this asset is $14,920,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $14,920,000.00
- Address: 1201 Monte Diablo Ave
- Market: San Mateo
- Lender: First Foundation Bank
- Brokers: Joe Bolognese, Trevor Damyan (CLS | CRE)
This transaction involves Joe Bolognese and Trevor Damyan acting as brokers, with Trevor Damyan representing the interests aligned with CLS | CRE within the deal. The lender facilitating the loan for this transaction is First Foundation Bank.
Players
San Mateo 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93