Updated Sep 9, 2024
Marcus & Millichap Capital Corporation Secures $15M Loan To Refinance Santa Fe Townhomes In Vista
1470 S Santa Fe Ave Vista, CA 92084, USA
$15,043,000
Units
45
Asset Type
MultiFamily
Closing
May 26, 2023
About this deal
AI
Marcus & Millichap Capital Corporation (MMCC) has secured a $15.043-million loan to refinance Santa Fe Townhomes, a newly constructed 45-unit multifamily property in Vista, California. The loan offers favorable terms, including a non-recourse, five-year fixed interest rate of 5.9% and a 65% loan-to-value ratio.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $15,043,000
- Units: 45
- Address: 1470 South Santa Fe Avenue, Vista, California
- Market: Vista
The loan was arranged by Chad O'Connor from Marcus & Millichap Capital Corporation. The loan terms include a non-recourse agreement and a five-year fixed interest rate of 5.9%. The loan-to-value ratio stands at 65%. The refinancing was secured for Santa Fe Townhomes, a newly constructed multifamily property located at 1470 South Santa Fe Avenue in Vista, California.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.05%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93