Meridian Capital Group Arranges $262.5M Construction Loan For 658-unit Multifamily In Irvine, CA
FINANCED
$262,500,000
California
See Similar DealsMultiFamily
Financed 02/15/2022
FINANCED
Meridian Capital Group Arranges $262.5M Construction Loan For 658-unit Multifamily In Irvine, CA
17422 Derian Avenue, Irvine, California 92614, United States
See Similar DealsMultiFamily
Financed 02/15/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$262,500,000.00
Monthly NOI$1,750,000.00
Monthly Debt Service$1,659,178.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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