Updated Oct 29, 2024
Legacy Homes Acquires Multifamily Property In Tracy For $86.2M
2725 Pavilion Pkwy, Tracy, CA 95304, USA
$86,200,000
$1,911/SF
Building Size
45,102 SF
Asset Type
MultiFamily
Closing
May 26, 2020
About this deal
AI
Legacy Homes, led by Gary Mancebo, has closed a transaction for a multifamily property located at 2725 Pavilion Parkway in Tracy. The property consists of 348 units and was acquired by Legacy Homes for an undisclosed price. The deal was facilitated by brokers Cody Field, Todd Vitzthum, and Simon Herrmann from Greystone.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Loan Amount: $86,200,000
- Loan Terms: 10-year
- Units: 348
- Market: Tracy
The successful acquisition of the multifamily property was made possible through a loan of $86,200,000 with a term of 10 years. Legacy Homes, spearheaded by Gary Mancebo, seized the opportunity to expand its real estate portfolio. Cody Field, Todd Vitzthum, and Simon Herrmann from Greystone expertly represented Legacy Homes throughout the transaction, showcasing their prowess in the real estate market.
On the Map
$86,200,000
$1,911/SF
MultiFamily
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Players
Tracy 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93