California Municipal Finance Authority Refinances Multifamily Properties In Milpitas And Oakland For $130M
FINANCED
$130,000,000
California
See Similar DealsMultiFamily
Financed 04/18/2022
FINANCED
California Municipal Finance Authority Refinances Multifamily Properties In Milpitas And Oakland For $130M
4311 Macarthur Boulevard, Oakland, California 94619, United States
See Similar DealsMultiFamily
Financed 04/18/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan
Located at 4311-4317 MacArthur Blvd. in Milpitas and 308 Sango Court in Oakland, this multifamily property consisting of 280 units recently underwent a loan refinance.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Loan Type: Refinance
- Lender: California Municipal Finance Authority
- Landlord: Pacific West Communities - Caleb Roope
The loan was provided by the California Municipal Finance Authority, enabling Pacific West Communities, led by Caleb Roope, to refinance the property. This deal marks a significant milestone for both the borrower and the lender in the Milpitas and Oakland markets.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$130,000,000.00
Monthly NOI$866,666.67
Monthly Debt Service$821,688.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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