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First Foundation Provides $10M Refinance Loan For 103-Unit Multifamily Property On Oxnard St. In Van Nuys

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FINANCED
$10,000,000
Garryn Laws
Matthew "Matt" Bucaro

California

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MultiFamily78,600 SF
Financed 05/24/2022
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FINANCED

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

See Similar Deals
MultiFamily78,600 SF
Financed 05/24/2022
Garryn Laws
Matthew "Matt" Bucaro
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$127
Total Square Footage:78,600 SF
Transaction Type:Loan

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

Matthew "Matt" Bucaro
Convoy Capital
Matthew Bucaro
12 deals$304.3M volume
BROKER
Garryn Laws
Convoy Capital
Garryn Laws
8 deals$209.6M volume
BROKER
First Foundation Bank
First Foundation Bank
LENDER

Details

FINANCED
IMAGE: Garryn Laws & Matthew Bucaro DATE: 05/24/2022 ADDRESS: 13141 Oxnard St. MARKET: Van Nuys ASSET TYPE: Multifamily ~ SF: 78,600 ~ UNITS: 103 LENDER: First Foundation (@FirstFoundationInc) BROKERS: Garryn Laws (@GLaws88) & Matthew Bucaro (@PapaBooc) - Tauro Capital Advisors Inc. LOAN AMOUNT: $10,000,000 LOAN TYPE: Refinance LOAN TERMS: 5-years fixed, 3.25% rate, Full-Term IO, Non Recourse

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,000,000.00

Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00