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Marcus & Millichap Capital Corporation Secures $9.15M Loan For Redondo Beach Multifamily Acquisition

Property Image
FINANCED
$9,150,000

California

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MultiFamily
Financed 09/18/2024
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Property Image
FINANCED

Marcus & Millichap Capital Corporation Secures $9.15M Loan For Redondo Beach Multifamily Acquisition

1402 Esplanade & 213 Calle Miramar

See Similar Deals
MultiFamily
Financed 09/18/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The transaction involved the acquisition of two multifamily properties located at 1402 Esplanade and 213 Calle Miramar in Redondo Beach, CA. The assets encompass a total of 22 units. The financing secured for this acquisition amounted to $9,150,000, structured as a fixed-rate, non-recourse loan.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,150,000
  • Loan Type: Acquisition
  • Loan Terms: fixed rate, non-recourse
  • Broker: Bradley Buzil - Marcus & Millichap Capital Corporation
  • Market: Redondo Beach
  • Assets: 22 units

Bradley Buzil represented Marcus & Millichap Capital Corporation in arranging the loan necessary for this transaction. The financing enabled the client to repatriate capital while also expediting the closing process through a cross-collateralized loan structure.

Players

Bradley Buzil
Marcus & Millichap
Bradley Buzil
13 deals$105.7M volume(312) 888-1525
BROKER

Details

FINANCED
IMAGE: Bradley Buzil DATE: 09/18/2024 ADDRESS: 1402 Esplanade & 213 Calle Miramar MARKET: Redondo Beach ASSET TYPE: Multifamily ~ UNITS: 22 BROKER: Bradley Buzil (@BBuzil) - Marcus & Millichap Capital Corporation (@MMCapCorp) LOAN AMOUNT: $9,150,000 LOAN TYPE: Acquisition LOAN TERMS: fixed rate, non-recourse NOTE: Marcus & Millichap Capital Corporation arranged $9.15 million in financing for the acquisition of two multifamily properties in Redondo Beach, CA. The cross-collateralized, fixed-rate loan, secured by Bradley Buzil, enabled the client to repatriate capital and expedited the closing process.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,150,000.00

Monthly NOI$61,000.00
Monthly Debt Service$57,834.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00