Updated Mar 11, 2025
Ready Capital Provides $141.4M Preferred Equity Loan For Multifamily Property In Santa Monica
1522 6th Street, Santa Monica, California 90405, United States
$141,400,000
Units
399
Asset Type
MultiFamily
Closing
Oct 6, 2022
About this deal
AI
An undisclosed multifamily property in Santa Monica has secured a preferred equity loan from Ready Capital. The asset, located at 1522 6th Street, Suite 100, comprises a total of 399 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $141,400,000
- Lender: Ready Capital
- Landlord: WS Communities
- Broker: Bryan Gortikov - Gortikov Capital
WS Communities, the landlord of the property, facilitated the deal, whereas Bryan Gortikov from Gortikov Capital acted as the broker representative.
The multifamily loan at 1522 6th Street, Santa Monica, California 90405, United States in Santa Monica, California financed for $141.4M in 2022. Reported inventory is 399 units across 399 units. Bryan Gortikov, Gortikov Capital appear on the loan alongside Gortikov Capital. This page is the Santa Monica, California file for the 1522 6th Street, Santa Monica, California 90405, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Santa Monica sit in the Market section below. Filter that Santa Monica multifamily set by closing date to see what else financed near 1522 6th Street, Santa Monica, California 90405, United States around 2022. Published consideration for 1522 6th Street, Santa Monica, California 90405, United States is $141.4M, dated 2022. Cite this Ready Capital Provides $141.4M Preferred Equity Loan For Multifamily Property In Santa Monica loan when underwriting similar multifamily product around Santa Monica, California.
Players
Santa Monica MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Bryan Gortikov to view all their deals.
Browse California multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93