Updated Oct 28, 2024
Silver Star Real Estate Refinances Multifamily Property On Ximeno Ave. In Long Beach For $75M
1613 Ximeno Avenue, Long Beach, California 90804, United States
$75,000,000
Units
206
Asset Type
MultiFamily
Closing
Jul 27, 2022
About this deal
AI
The multifamily property located at 1613 Ximeno Ave. in Long Beach has been involved in a recent closed transaction. The property consists of 206 units, making it a significant asset in the market.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $75,000,000
- Loan Type: Refinance
- Loan Terms: 3-year, floating-rate
The transaction was facilitated by Silver Star Real Estate, who served as the landlord. The brokers involved in the deal were Greg Brown and Charlie Vorsheck from JLL Capital Markets.
The loan amount for the transaction amounted to $75,000,000. It was a refinance loan with a term of three years and a floating interest rate.
Players
Long 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93