Updated Oct 29, 2024
Maximus Real Estate Partners Secures $1.775B Loan For Lakeshore Multifamily
3711 19th Avenue, Parkmerced, San Francisco, CA, USA
$1,775,000,000
$591/SF
Building Size
3,000,000 SF
Asset Type
MultiFamily
Closing
Dec 3, 2019
About this deal
AI
The multifamily property located at 3711 19th Avenue in Lakeshore was involved in a closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,775,000,000
- Address: 3711 19th Avenue
- Market: Lakeshore
- Lender: Citi, Barclays, AIMCO
- Landlord: Maximus Real Estate Partners - Robert Rosania
- Loan Terms: CMBS, fixed-rate, interest-only
- Units: 3,221
- Square Footage: 3,000,000
- Brokers: Patrick Hanlon - Ackman Ziff, Adam Spies & Doug Harmon ushwake
The loan for this transaction was provided by Citi, Barclays, and AIMCO. The loan amount was $1,775,000,000 and the loan terms included CMBS, fixed-rate, and interest-only payments. The property consists of 3,221 units with a total square footage of 3,000,000. The landlords involved in the deal are Maximus Real Estate Partners, represented by Robert Rosania. The brokers representing the transaction were Patrick Hanlon from Ackman Ziff and Adam Spies & Doug Harmon from ushwake.
On the Map
$1,775,000,000
$591/SF
MultiFamily
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Players
San Francisco 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
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93