Greystone Provides $123M Refinance Loan For 560-Unit Multifamily Property In Riverside, CA
FINANCED
$123,074,900
California
See Similar DealsMultiFamily500,000 SF
Financed 02/25/2022
FINANCED
Greystone Provides $123M Refinance Loan For 560-Unit Multifamily Property In Riverside, CA
5700 Lochmoor Drive, Riverside, California 92507, United States
See Similar DealsMultiFamily500,000 SF
Financed 02/25/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$246
Total Square Footage:500,000 SF
Transaction Type:Loan
The multifamily property located at 5700 Lochmoor Dr. in Riverside, CA recently underwent a refinancing deal. The property has a size of 500,000 square feet and consists of 560 units. The transaction was closed on 02/25/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $123,074,900
- Address: 5700 Lochmoor Dr., Riverside, CA
- Market: Riverside, CA
- Loan Type: Refinance
The financing for this transaction was provided by greystone''>Greystone, a lending company. The loan, amounting to $123,074,900, was secured under a HUD 223(f) program. The loan terms include a 35-year term and amortization period, with a low fixed interest rate.
Representatives from Greystone, Dan Sacks, and Ilan Bassali, facilitated the loan process for this refinancing deal.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$123,074,900.00
Monthly NOI$820,499.33
Monthly Debt Service$777,917.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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