CBRE Provides $41.5M Loan For Multifamily Property At 225 West Third Street In Long Beach
FINANCED
$41,500,000
California
See Similar DealsMultiFamily973 SF
Financed 07/13/2020
FINANCED
CBRE Provides $41.5M Loan For Multifamily Property At 225 West Third Street In Long Beach
225 West 3rd Street, Los Angeles, CA 90013
See Similar DealsMultiFamily973 SF
Financed 07/13/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$42,651
Total Square Footage:973 SF
Transaction Type:Loan
A multifamily property located at 225 West Third Street in Long Beach has recently been involved in a closed transaction. The property, owned by Gelt Inc., was the subject of a loan provided by CBRE. The loan amount for this transaction was $41,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $41,500,000
- Address: 225 West Third Street
- Market: Long Beach
- Lender: CBRE
- Landlord: Gelt Inc.
- Brokers: Brandon Smith, Annie Rice & David Pelaia - JLL Capital Markets
The loan transaction was facilitated by CBRE, serving as the lender for the transaction. Gelt Inc., the owner of the property, worked with Brandon Smith, Annie Rice, and David Pelaia of JLL Capital Markets as their brokers in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$41,500,000.00
Monthly NOI$276,666.67
Monthly Debt Service$262,308.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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