Malin Asset Management Secures $4.525M Refinance Loan From EverBank For Multifamily Asset In Inglewood
FINANCED
$4,525,000
California
See Similar DealsMultiFamily20,664 SF
Financed 03/17/2025
FINANCED
Malin Asset Management Secures $4.525M Refinance Loan From EverBank For Multifamily Asset In Inglewood
437 West Queen Street
See Similar DealsMultiFamily20,664 SF
Financed 03/17/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$219
Total Square Footage:20,664 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 437 West Queen Street in Inglewood. The property consists of 18 units and has a total square footage of 20,664. The loan associated with this property amounts to $4,525,000 and is categorized as a refinance loan with a 30-Year term and 3-Year interest-only period at T +2.00%, being non-recourse with stepdown prepayment clauses.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,525,000
- Loan Type: Refinance
- Loan Terms: 30-Year Term / 3-Year IO @ T +2.00%, Non-Recourse, Stepdown Prepay
- Lender: EverBank
- Landlord: Malin Asset Management
- Brokers: Marc Schillinger, Max Mraz & Keaton Yellin - JLL
Key individuals involved in the deal are brokers Marc Schillinger, Max Mraz, and Keaton Yellin, representing the landlords in this transaction. Their collective expertise facilitated the refinancing process for Malin Asset Management, enhancing their financial management of the multifamily asset.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,525,000.00
Monthly NOI$30,166.67
Monthly Debt Service$28,601.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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