Updated Oct 28, 2024
Pinnacle Parkside Development US Refinances San Diego Multifamily For $129.5M
1475 Island Avenue, San Diego, California 92101, United States
$129,500,000
Units
472
Asset Type
MultiFamily
Closing
May 4, 2022
About this deal
AI
The multifamily property located at 1475 Island Avenue in San Diego has recently undergone a refinancing transaction. The property consists of 472 units and is owned by Pinnacle Parkside Development US.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $129,500,000
- Lender: greystone''>Greystone - Matt Stevens
- Landlord: Pinnacle Parkside Development US
- Brokers: James Dick & Jay Dick - Kidder Mathews
The loan for this transaction was provided by Greystone, with Matt Stevens representing the lender. The brokers involved in the deal were James Dick and Jay Dick from Kidder Mathews.
Players
San Diego 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
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93