Updated May 12, 2025
Principal Real Estate Investors Provides $93M Construction Loan For Multifamily Property In Redlands
1600 Orange Avenue, Redlands, CA, USA
$93,000,000
$283,536/SF
Building Size
328 SF
Asset Type
MultiFamily
Closing
Nov 9, 2021
About this deal
AI
The property involved in this transaction is a multifamily asset located at 1600 Orange Avenue in Redlands. The site spans 22 acres and contains a total of 328 units. The loan amount for this construction financing is $93,000,000, with a loan type defined as a construction loan featuring a 5-year, floating-rate term.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $93,000,000
- Address: 1600 Orange Avenue
- Market: Redlands
- Acres: 22
- Units: 328
- Lender: Principal Real Estate Investors
- Lender's Representative: Daniel J. Houston
- Landlord: LuxView Properties
- Broker: JLL
- Loan Type: Construction
- Loan Terms: 5-year, floating-rate
The deal involves key figures such as Daniel J. Houston representing Principal Real Estate Investors as the lender. LuxView Properties serves as the landlord in this transaction, with JLL acting as the broker facilitating the deal.
Players
Redlands 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93