Silver Star Real Estate Refinances Long Beach Multifamily Property With $75M Loan From LoanCore Capital
1614 Ximeno Avenue, Long Beach, California 90803, United States
$75,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 2, 2022
AI
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
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