Jennifer Lopez & Michael Shorey Of UF&I Group Secure $5M Refinance Loan For Laguna Beach Multifamily
FINANCED
$5,000,000
California
See Similar DealsMultiFamily2,717 SF
Financed 12/17/2024
FINANCED
Jennifer Lopez & Michael Shorey Of UF&I Group Secure $5M Refinance Loan For Laguna Beach Multifamily
150 Cress Street
See Similar DealsMultiFamily2,717 SF
Financed 12/17/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$1,840
Total Square Footage:2,717 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 150 Cress Street in Laguna Beach, with a total square footage of 2,717. The loan amount secured for this property is $5,000,000, categorized under refinance with a 12-month bridge debt financing.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Loan Type: Refinance
- Loan Terms: 12 month bridge debt financing
- Lender: Olympia Financial
- Brokers: Jennifer Lopez & Michael Shorey - UF&I Group
- Date: 12/17/2024
This transaction was facilitated by brokers Jennifer Lopez and Michael Shorey, representing UF&I Group. They played a crucial role in coordinating the refinancing process for the multifamily property in Laguna Beach.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,000,000.00
Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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