First Foundation Provides $10M Refinance Loan For 103-Unit Multifamily Property On Oxnard St. In Van Nuys
13141 Oxnard Street, Van Nuys, California 91401, United States
$10,000,000
$127/SF
Building Size
78,600 SF
Asset Type
MultiFamily
Closing
May 23, 2022
AI
First Foundation provided a $10,000,000 refinance loan for a multifamily property located at 13141 Oxnard St. in Van Nuys. The property has a total square footage of 78,600 and consists of 103 units. The loan terms include a 5-year fixed term, a 3.25% interest rate, full-term interest-only payments, and non-recourse financing.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Address: 13141 Oxnard St.
- Market: Van Nuys
- Square Footage: 78,600
- Units: 103
- Lender: First Foundation
- Brokers: Garryn Laws & Matthew Bucaro - Tauro Capital Advisors Inc.
- Loan Type: Refinance
- Loan Terms: 5-years fixed, 3.25% rate, Full-Term IO, Non Recourse
The loan transaction was facilitated with the assistance of Garryn Laws and Matthew Bucaro from Tauro Capital Advisors Inc.
Players
Los Angeles 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93