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Greenline Real Estate Acquires MultiFamily Property In San Diego For $23.3M

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FINANCED
$23,300,000

California

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MultiFamily
Financed 08/17/2023
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FINANCED

Greenline Real Estate Acquires MultiFamily Property In San Diego For $23.3M

3843 & 3849 Eighth Avenue

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MultiFamily
Financed 08/17/2023
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The multi-family property located at 3843 & 3849 8th Avenue in San Diego, CA has been involved in a recent transaction. The property, owned by Greenline Real Estate represented by Adam Greenberg & Gilad Tamir, was the subject of a loan.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $23,300,000

The loan, in the amount of $23,300,000, was a construction loan with non-recourse terms. This financing will support the development or renovation of the property, allowing for improvements or expansion to take place. While no further details are available, it can be speculated that this transaction represents a significant investment in the property's development and potential.

Details

FINANCED
IMAGE: Gilad Tamir & Adam Greenberg DATE: 08/17/2023 ADDRESS: 3843 & 3849 8th Avenue MARKET: San Diego, CA ASSET TYPE: MultiFamily LANDLORD: Greenline Real Estate (@greenline_re) - Adam Greenberg & Gilad Tamir LOAN AMOUNT: $23,300,000 LOAN TYPE: Construction LOAN TERMS: Non-Recourse

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$23,300,000.00

Monthly NOI$155,333.33
Monthly Debt Service$147,271.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00