Tesseract Capital Group Secures $53.4M Loan For Modesto Multifamily Property
FINANCED
$53,400,000
California
See Similar DealsMultiFamily
Financed 06/03/2022
FINANCED
Tesseract Capital Group Secures $53.4M Loan For Modesto Multifamily Property
3601 Prescott Road, Modesto, California 95356, United States
See Similar DealsMultiFamily
Financed 06/03/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 3601 Prescott Road & 1600 Standiford Avenue in Modesto has been involved in a closed transaction. The property comprises 236 units and is owned by Tesseract Capital Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,400,000
- Loan: Provided by Dwight Capital, with Josh Sasouness as the representative
- Lender's Representative: Josh Sasouness - Dwight Capital
In this transaction, a loan amount of $53,400,000 was secured through Dwight Capital with Josh Sasouness representing the lender. The loan will support the acquisition or refinancing of the multifamily property owned by Tesseract Capital Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$53,400,000.00
Monthly NOI$356,000.00
Monthly Debt Service$337,524.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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