Slate Real Estate Capital Closes $27M Loan For Lantana Uptown Multifamily In Oakland
625 16th St Oakland, CA 94612, USA
$27,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 6, 2023
AI
Slate Real Estate Capital has closed a $27 million loan for the financing of Lantana Uptown, a Class-A multifamily property located at 625 16th Street in Oakland. The loan amount of $27,000,000 aligns with the strong fundamentals of the Bay Area's multifamily market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,000,000
- Units: 140
- Address: 625 16th Street
- Market: Oakland
The transaction involved brokers Charles Halladay and Lillian Roos from JLL, who represented both the lender, Slate Real Estate Capital, and the borrower in securing the senior loan for the financing of Lantana Uptown.
Players
Los Angeles 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93