Fidelity Properties Provides $65M Construction Loan For Multifamily Property On N Garey Ave
FINANCED
$65,000,000
California
See Similar DealsMultiFamily300,000 SF
Financed 07/10/2020
FINANCED
Fidelity Properties Provides $65M Construction Loan For Multifamily Property On N Garey Ave
2501 N Garey Ave, Pomona, CA 91767, USA
See Similar DealsMultiFamily300,000 SF
Financed 07/10/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$216
Total Square Footage:300,000 SF
Transaction Type:Loan
The multifamily property located at 2501 N Garey Ave has been involved in a closed transaction. This property spans 300,000 square feet and consists of 251 units. The transaction occurred on 07/10/2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Loan Type: Construction loan
Fidelity Properties provided the loan for this transaction, amounting to $65,000,000. The landlord involved in this deal is George Saadian.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$65,000,000.00
Monthly NOI$433,333.33
Monthly Debt Service$410,844.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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