Updated Dec 19, 2024
Jennifer Lopez & Michael Shorey Of UF&I Group Secure $5M Refinance Loan For Laguna Beach Multifamily
150 Cress Street
$5,000,000
$1,840/SF
Building Size
2,717 SF
Asset Type
MultiFamily
Closing
Dec 17, 2024
About this deal
AI
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
Laguna Beach 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93