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Mill Creek Residential Acquires Multifamily Property In Boca Raton For $165M

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FINANCED
$165,000,000
John Chun
Nick Lench
Kevin MacKenzie

California

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MultiFamily697 SF
Financed 09/21/2019
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FINANCED

Mill Creek Residential Acquires Multifamily Property In Boca Raton For $165M

5901 Center Drive, Los Angeles, CA, USA

See Similar Deals
MultiFamily697 SF
Financed 09/21/2019
John Chun
Nick Lench
Kevin MacKenzie
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$236,728
Total Square Footage:697 SF
Transaction Type:Loan

Mill Creek Residential, a Boca Raton-based landlord, has secured a $165 million loan from Square Mile Capital Management for the multifamily property located at 5901-5902 Center Drive. The property consists of 376 units and is located in an undisclosed market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $165,000,000
  • Address: 5901-5902 Center Drive
  • Units: 376

JLL brokers Kevin MacKenzie, John Chun, and Nick Lench represented Mill Creek Residential in securing the loan from Square Mile Capital Management.

Players

Kevin MacKenzie
JLL
Kevin MacKenzie
25 deals$4.4B volume(949) 870-8722
BROKER
Nick Lench
JLL
Nick Lench
2 deals$347M volume(425) 578-4332
BROKER
John Chun
JLL
John Chun
20 deals$1.1B volume
BROKER
Square Mile Capital
Square Mile Capital
LENDER
Mill Creek Residential
Mill Creek Residential
LANDLORD
BR
Boca Raton
LANDLORD

Details

FINANCED
IMAGE: Kevin MacKenzie, John Chun & Nick Lench DATE: 09/201/2019 ADDRESS: 5901-5902 Center Drive ASSET TYPE: Multifamily LENDER: Square Mile Capital Management LANDLORD: Mill Creek Residential, Boca Raton BROKERS: Kevin MacKenzie, John Chun, Nick Lench - JLL LOAN AMOUNT: $165,000,000 UNITS: 376

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$165,000,000.00

Monthly NOI$1,100,000.00
Monthly Debt Service$1,042,912.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00