Updated Feb 16, 2024
Fidelity Properties Provides $65M Construction Loan For Multifamily Property On N Garey Ave
2501 N Garey Ave, Pomona, CA 91767, USA
$65,000,000
$216/SF
Building Size
300,000 SF
Asset Type
MultiFamily
Closing
Jul 9, 2020
About this deal
AI
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.
The multifamily loan at 2501 N Garey Ave, Pomona, CA 91767, USA in Pomona, California financed for $65M in 2020. Reported inventory is 300,000 square feet across 251 units, or about 216 per square foot. Named participants on the 2501 N Garey Ave, Pomona, CA 91767, USA loan are George Saadian. This page is the Pomona, California file for the 2501 N Garey Ave, Pomona, CA 91767, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Pomona sit in the Market section below. Filter that Pomona multifamily set by closing date to see what else financed near 2501 N Garey Ave, Pomona, CA 91767, USA around 2020. Published consideration for 2501 N Garey Ave, Pomona, CA 91767, USA is $65M, dated 2020. Cite this Fidelity Properties Provides $65M Construction Loan For Multifamily Property On N Garey Ave loan when underwriting similar multifamily product around Pomona, California.
Players
Pomona 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93