Updated Oct 28, 2024
Madison Realty Capital Provides $182.5M Construction Loan For Multifamily Development In San Jose
600-618 South First Street, San Jose, CA, USA
$182,500,000
Units
336
Asset Type
MultiFamily
Closing
Dec 2, 2021
About this deal
AI
The multifamily property located at 600-618 South First Street in San Jose has been involved in a recent transaction. The property consists of 336 units and is owned by Scape North America. The transaction took place on 12/02/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $182,500,000
- Address: 600-618 South First Street, San Jose
- Market: San Jose
- Units: 336
Josh Zegen from Madison Realty Capital provided a construction loan for this transaction. The loan amount was $182,500,000. The property's image can be seen on Josh Zegen's Instagram account.
Players
San Jose MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93