Highland Realty Capital Provides $22.65M Loan For 55-unit Multifamily Property In Willow Glen, San Jose
FINANCED
$22,650,000
California
See Similar DealsMultiFamily1,117 SF
Financed 03/25/2021
FINANCED
Highland Realty Capital Provides $22.65M Loan For 55-unit Multifamily Property In Willow Glen, San Jose
1785 Almaden Rd, Willow Glen, San Jose, CA, USA
See Similar DealsMultiFamily1,117 SF
Financed 03/25/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$20,277
Total Square Footage:1,117 SF
Transaction Type:Loan
Highland Realty Capital has provided a loan of $22,650,000 for the acquisition of a multifamily property located at 1785 Almaden Rd. in Willow Glen, San Jose. The transaction took place on March 25, 2021. The property consists of 55 units and is situated in a prime market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,650,000
- Units: 55
- Lender: Highland Realty Capital
- Brokers: Jeffrey K. Eliason & Leland Ortega
Jeffrey K. Eliason and Leland Ortega, acting as brokers, facilitated the loan transaction. They played key roles in securing the financing for the acquisition.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,650,000.00
Monthly NOI$151,000.00
Monthly Debt Service$143,163.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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