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2175 Kettner

R&V Management Secures $43M Loan For 2175 Kettner Multifamily
FINANCEDMultiFamily

R&V Management Secures $43M Loan For 2175 Kettner Multifamily

2175 Kettner

$43,000,000

$551/SF

Building Size

78,000 SF

Asset Type

MultiFamily

Closing

Sep 20, 2020

AI

Located in the vibrant neighborhood of Little Italy, San Diego, the multifamily property at 2175 Kettner has recently undergone a closed transaction. Managed by R&V Management, this property offers 129 units spread across approximately 7,800 square feet of space. The deal was facilitated by CBRE brokers Bill Chiles, Scott Peterson, and Brian Cruz, who represented the interests of the parties involved.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $43,000,000
  • Loan Terms: 10-year
  • Address: 2175 Kettner, Little Italy, San Diego
  • Market: Little Italy, San Diego
  • Landlord: R&V Management

The $43,000,000 loan for this transaction was secured for a 10-year term. The property, consisting of 129 units, offers a total of 7,800 square feet of livable space. The involvement of CBRE brokers Bill Chiles, Scott Peterson, and Brian Cruz ensured a smooth transaction, representing the interests of the parties involved.

Players

Brian Cruz

CBRE

Broker

$225.6M

vol

5 deals

Broker
RM
R & V ManagementLandlord

San Diego 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

0.37%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93