Bank OZK And Square Mile Capital Management Provide $131.2M Loan For Belmont Multifamily - Terry Daly & Dan McLeod, Cushman & Wakefield
FINANCED
$131,200,000
California
See Similar DealsMultiFamily3,166 SF
Financed 06/17/2020
FINANCED
Bank OZK And Square Mile Capital Management Provide $131.2M Loan For Belmont Multifamily - Terry Daly & Dan McLeod, Cushman & Wakefield
1325 Old County Road, Belmont, CA, USA
See Similar DealsMultiFamily3,166 SF
Financed 06/17/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$41,440
Total Square Footage:3,166 SF
Transaction Type:Loan
The multifamily property located at 1325 Old Country Rd. in Belmont has been involved in a recent transaction.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $131,200,000
- Market: Belmont
- Lender: Bank OZK & Square Mile Capital Management LLC - Eric Cohen & Matthew Drummond
- Landlord: Windy Hill Property Ventures
- Brokers: Terry Daly & Dan McLeod - Cushman & Wakefield
The loan amount for this transaction was $131,200,000, and the property consists of 250 units. The deal was facilitated by Bank OZK and Square Mile Capital Management LLC, represented by Eric Cohen and Matthew Drummond. The landlord involved in this transaction is Windy Hill Property Ventures. The brokers responsible for the deal were Terry Daly and Dan McLeod from Cushman & Wakefield.
Players
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$131,200,000.00
Monthly NOI$874,666.67
Monthly Debt Service$829,273.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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