Updated Oct 29, 2024
Mill Creek Residential Acquires Multifamily Property In Boca Raton For $165M
5901 Center Drive, Los Angeles, CA, USA
$165,000,000
$236,728/SF
Building Size
697 SF
Asset Type
MultiFamily
Closing
Sep 20, 2019
About this deal
AI
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.
On the Map
$165,000,000
$236,728/SF
MultiFamily
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Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
About $236.7K per square foot on a published $165M for 697 square feet (2019).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93