Updated Nov 17, 2023
Freddie Mac Optigo Provides $16.3M Construction Loan For Multifamily Property In Santa Rosa
3 West 3rd Street, Santa Rosa, California 95401, United States
$16,333,000
Units
129
Asset Type
MultiFamily
Closing
Dec 13, 2022
About this deal
AI
The multifamily property located at 3 West Third Street in Santa Rosa has been involved in a recent transaction. The property consists of 129 units and is owned by The John Stewart Companies and Pacific Housing. The loan for this transaction was provided by Freddie Mac Optigo, and the broker representing the deal was Anson Snyder from JLL Capital Markets.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,333,000
- Loan Type: Construction Loan
- Loan Terms: 15-year, fixed-rate loan
- Image: Anson Snyder
- Date: 12/13/2022
- Address: 3 West Third Street, Santa Rosa
In this transaction, the loan amount was $16,333,000, and it was a construction loan with a 15-year fixed-rate term. Anson Snyder from JLL Capital Markets represented the buyer, The John Stewart Companies and Pacific Housing, in this deal.
Players
Santa Rosa 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
0.97%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93