Northmarq Facilitates $43M Acquisition Loan For 208-Unit Multifamily In San Diego
688 13th Street, San Diego, California 92101, United States
$43,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 26, 2022
AI
The multifamily property located at 688 13th St. in San Diego has been involved in a recent transaction. The acquisition loan for this property was secured for a total amount of $43,000,000. This loan was obtained for the purpose of acquiring the property, which consists of 208 units. The loan was facilitated by David Link from Northmarq, who acted as the broker in the deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Address: 688 13th St.
- Market: San Diego
- Asset Type: Multifamily
David Link from Northmarq played a crucial role in the transaction as the broker representing the parties involved. His expertise and guidance helped facilitate the acquisition loan for this multifamily property in San Diego.
Players
San Diego 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93