FINANCED
Republic Urban Properties Refinances Multifamily Property With $125M Loan In Millbrae
126 Rollins Road
MultiFamily
Financed 15 days ago
Summary
Loan
CALIFORNIA
MultiFamily
An apartment complex within the Gateway at Millbrae Station development in Millbrae, consisting of 320 units, located at 126 Rollins Road, was refinanced recently.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $125,000,000
- Market: Millbrae
- Lender: Argentic Real Estate Investment
- Landlord: Michael Van Every - Republic Urban Properties
Republic Urban Properties secured the $125 million loan from Argentic Real Estate Investment for the apartment complex, with a fixed interest rate of 8.56 percent, maturing in May 2029. The loan will support the property's goal of achieving full occupancy by the first quarter of 2025 despite a reported net operating loss of $1.8 million at the end of 2023.
Players
Details
FINANCED
IMAGE: 04/17/2024
ADDRESS: 126 North Rollins Road
MARKET: Millbrae
ASSET TYPE: Multifamily ~ UNITS: 320
LENDER: Argentic Real Estate Investment
LANDLORD: Michael Van Every - Republic Urban Properties
LOAN AMOUNT: $125,000,000
LOAN TYPE: Refinance
NOTE: Republic Urban Properties secured a $125 million commercial mortgage-backed securities loan from Argentic Real Estate Investment to refinance an apartment complex within its Gateway at Millbrae Station development, adjacent to a BART train station connecting to San Francisco and Silicon Valley. The loan, with a fixed interest rate of 8.56 percent and maturing in May 2029, will aid Republic Urban's efforts to achieve full occupancy by the first quarter of 2025, despite reporting a net operating loss of $1.8 million at the end of 2023.View on map
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Address126 Rollins Road
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