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Silver Star Real Estate Refinances Long Beach Multifamily Property With $75M Loan From LoanCore Capital

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FINANCED
$75,000,000

California

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MultiFamily
Financed 08/03/2022
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FINANCED

Silver Star Real Estate Refinances Long Beach Multifamily Property With $75M Loan From LoanCore Capital

1614 Ximeno Avenue, Long Beach, California 90803, United States

See Similar Deals
MultiFamily
Financed 08/03/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 1614 Ximeno Ave in Long Beach has undergone a refinancing transaction. The property consists of 206 units and is owned by Silver Star Real Estate. The loan was provided by LoanCore Capital.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $75,000,000
  • Loan Type: Refinancing
  • Loan Terms: Three-year, floating-rate
  • Address: 1614 Ximeno Ave
  • Market: Long Beach

The brokers involved in this transaction were Greg Brown and Charlie Vorsheck from JLL Capital Markets.

Players

Greg Brown
21 deals$1.2B volume
BROKER

Charlie Vorsheck
JLL
5 deals$371.5M volume
BROKER

LoanCore Capital
LENDER

Details

FINANCED
IMAGE: Greg Brown & Charlie Vorsheck DATE: 08/03/2022 ADDRESS: 1614 Ximeno Ave. MARKET: Long Beach ASSET TYPE: Multifamily ~ UNITS: 206 LENDER: LoanCore Capital LANDLORD: Silver Star Real Estate BROKERS: Greg Brown & Charlie Vorsheck - JLL Capital Markets (@JLL) LOAN AMOUNT: $75,000,000 LOAN TYPE: Refinancing LOAN TERMS: Three-year, floating-rate

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$75,000,000.00

Monthly NOI$500,000.00
Monthly Debt Service$474,051.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00