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Axos Bank Provides $46.3M Acquisition Loan For 113-Unit Multifamily Property In Los Angeles

Property Image
FINANCED
$66,100,000
Tyler Bradford
Blake Rogers
NM
+ 2

California

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MultiFamily121,415 SF
Financed 03/28/2023
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Property Image
FINANCED

Axos Bank Provides $46.3M Acquisition Loan For 113-Unit Multifamily Property In Los Angeles

2245 South Beverly Glen Boulevard

See Similar Deals
MultiFamily121,415 SF
Financed 03/28/2023
Tyler Bradford
Blake Rogers
NM
+ 2
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$544
Total Square Footage:121,415 SF
Transaction Type:Loan

The property at 2245 South Beverly Glen Boulevard in Los Angeles has been acquired in a closed transaction. The multi-family asset consists of 113 units and spans a total area of 121,415 square feet. The property was sold for $66,100,000.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $66,100,000
  • Units: 113
  • Square Footage: 121,415
  • Address: 2245 South Beverly Glen Boulevard
  • Market: Los Angeles

The loan for the acquisition was provided by Axos Bank. The landlord of the property is Deepak Mehta, Rohit Mehta, and Nataliya Mehta. The broker involved in the deal was Blake Rogers from Walker & Dunlop, while the mortgage broker was Tyler Bradford from Convoy Capital. The loan amount for the transaction was $46,270,000. It was an acquisition loan with a loan term of 70% loan-to-value (LTV), a floating rate adjustable-rate mortgage (ARM), and underwritten at market rents.

Players

Blake Rogers
JLL
Blake Rogers
22 deals$2B volume(424) 281-1513
BROKER
Tyler Bradford
Tyler Bradford
9 deals$180.5M volume
BROKER
Deepak Mehta
Deepak Mehta
29 deals$380.5M volume(310) 383-3331
BROKER
Rohit Mehta
Rohit Mehta
5 deals$105.8M volume
BROKER
Axos Bank
Axos Bank
LENDER
NM
Nataliya Mehta
11 deals$180.9M volume
LANDLORD
Deepak Mehta
Deepak Mehta
29 deals$380.5M volume
LANDLORD
Deepak Mehta
Deepak Mehta
29 deals$380.5M volume
LANDLORD
Rohit Mehta
Rohit Mehta
5 deals$105.8M volume
LANDLORD

Details

FINANCED
IMAGE: Blake Rogers, Rohit Mehta, Deepak Mehta, Nataliya Mehta & Tyler Bradford DATE: 03/28/2023 ADDRESS: 2245 South Beverly Glen Boulevard MARKET: Los Angeles ASSET TYPE: MultiFamily ~ UNITS: 113 ~ SF: 121,415 LENDER: Axos Bank (@AxosBank) LANDLORD: Deepak Mehta (@TheDeepakMehta), Rohit Mehta & Nataliya Mehta (@NataliyaMehta) BROKER: Blake Rogers - Walker & Dunlop (@WalkerDunlop) MORTGAGE BROKER: Tyler Bradford (@Tbradford1010) - Convoy Capital (@Convoy_Capital) LOAN AMOUNT: $46,270,000 LOAN TYPE: Acquisition Loan LOAN TERM: 70% LTV, floating rate ARM, underwritten at market rents SALE AMOUNT: $66,100,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$66,100,000.00

Monthly NOI$440,666.67
Monthly Debt Service$417,796.96
Change in Cash Flow$0.00
Refinance Proceeds$0.00