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
$22,650,000
$20,277/SF
Building Size
1,117 SF
Asset Type
MultiFamily
Closing
Mar 24, 2021
AI
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
San Jose 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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93