TK LLC Acquires Multifamily Property In Westdale/Palms For $10.9M
FINANCED
$10,900,000
California
See Similar DealsMultiFamily36,300 SF
Financed 01/31/2020
FINANCED
TK LLC Acquires Multifamily Property In Westdale/Palms For $10.9M
3315 Motor Avenue, Los Angeles, CA 90034, USA
See Similar DealsMultiFamily36,300 SF
Financed 01/31/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$300
Total Square Footage:36,300 SF
Transaction Type:Loan
A multifamily property located at 3315 Motor Ave in the Westdale/Palms market has recently been involved in a closed transaction. The property spans a total square footage of 36,300 and consists of 50 units. The deal was facilitated by Alina Mardesich of TK LLC acting as the broker representative.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,900,000
- Lender: George Smith Partners
- Landlord: TK LLC
- Loan Terms: 4.99% Pay Rate, 7.99% Accrual Rate, Acquisition Bridge
George Smith Partners provided a loan in the amount of $10,900,000 for the acquisition of the multifamily property. The loan terms include a 4.99% pay rate and a 7.99% accrual rate. Alina Mardesich of TK LLC represented the buyer in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,900,000.00
Monthly NOI$72,666.67
Monthly Debt Service$68,895.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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