Pacific Western Bank Provides $64.4M Construction Loan For Monrovia Multifamily Property
FINANCED
$64,390,000
California
See Similar DealsMultiFamily252,100 SF
Financed 04/05/2022
FINANCED
Pacific Western Bank Provides $64.4M Construction Loan For Monrovia Multifamily Property
127 West Pomona Avenue, Monrovia, California 91016, United States
See Similar DealsMultiFamily252,100 SF
Financed 04/05/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$255
Total Square Footage:252,100 SF
Transaction Type:Loan
A construction loan has been secured for a multifamily property located at 127 W. Pomona Ave. in Monrovia. The property spans over 252,100 square feet and contains 220 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $64,390,000
- Address: 127 W. Pomona Ave.
- Market: Monrovia
- Square Footage: 252,100
- Units: 220
The construction loan, amounting to $64,390,000, has been provided by Pacific Western Bank. The transaction was facilitated by brokers Stefen Chraghchian and Sharone Sabar from Marcus & Millichap Capital Corporation.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,390,000.00
Monthly NOI$429,266.67
Monthly Debt Service$406,988.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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