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Marcus & Millichap Capital Refinances 46-Unit Multifamily Property In Valley Village For $12.1M

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FINANCED
$12,100,000

California

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MultiFamily
Financed 02/19/2024
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FINANCED

Marcus & Millichap Capital Refinances 46-Unit Multifamily Property In Valley Village For $12.1M

5501 Laurel Canyon Boulevard & 5513 Laurel Canyon Boulevard

See Similar Deals
MultiFamily
Financed 02/19/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The Laurel Canyon Apartments, a 46-unit multifamily property located at 5501-5513 Laurel Canyon Boulevard in Valley Village, California, secured $12.1 million in refinancing. The loan terms include a five-year period with one year of interest-only payments, followed by a 30-year amortization schedule. The loan-to-value (LTV) ratio for this transaction is 54%.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $12,100,000
  • Address: 5501-5513 Laurel Canyon Boulevard
  • Market: Valley Village

Bradley Buzil of Marcus & Millichap Capital Corporation facilitated the refinancing deal for the Laurel Canyon Apartments. The financing arranged by MMCC allowed for a seamless transition to a fixed-rate loan, avoiding the usual seasoning requirements and lowering the borrower's cost of capital.

Players

Bradley Buzil
Marcus & Millichap
Bradley Buzil
13 deals$105.7M volume(312) 888-1525
BROKER

Details

FINANCED
IMAGE: Bradley Buzil DATE: 02/19/2024 ADDRESS: 5501-5513 Laurel Canyon Boulevard MARKET: Valley Village ASSET TYPE: Multifamily ~ UNITS: 46 BROKER: Bradley Buzil (@BBuzil) - Marcus & Millichap Capital Corporation (@MMCapCorp) LOAN AMOUNT: $12,100,000 LOAN TYPE: Refinance LOAN TERMS: five-year loan include one-year interest only followed by 30-years amortization with an LTV of 54%. NOTE: Marcus & Millichap Capital Corporation (MMCC) secured $12.1 million in refinancing for Laurel Canyon Apartments, a 46-unit property in Valley Village, California. The financing, arranged by Bradley Buzil of MMCC's Los Angeles office, facilitated a seamless transition to a fixed-rate loan, bypassing typical seasoning requirements and reducing the borrower's cost of capital.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$12,100,000.00

Monthly NOI$80,666.67
Monthly Debt Service$76,480.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00