Updated Apr 3, 2025
Meridian Capital Group Arranges $262.5M Construction Loan For 658-unit Multifamily In Irvine, CA
17422 Derian Avenue, Irvine, California 92614, United States
$262,500,000
Units
658
Asset Type
MultiFamily
Closing
Feb 14, 2022
About this deal
AI
The multifamily property located at 17422 Derian Avenue & 18831 Von Karman Avenue in Irvine, CA has been involved in a closed transaction. The property consists of 658 units and is situated in the Irvine market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $262,500,000
- Lender: Mack Real Estate Credit Strategies
- Brokers: Drew Anderman, Alan Blank & Naphtali Marrus - Meridian Capital Group
- Loan Type: Construction Loan
- Loan Terms: 3+1+1
The construction loan for this transaction was provided by Mack Real Estate Credit Strategies. The brokers representing the deal were Drew Anderman, Alan Blank, and Naphtali Marrus from Meridian Capital Group.
On the Map
$262,500,000
MultiFamily
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Players
Irvine 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93