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688 13th Street, San Diego,...

Northmarq Facilitates $43M Acquisition Loan For 208-Unit Multifamily In San Diego
FINANCEDMultiFamily

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

David Link

NorthMarq

Broker

$156.7M

vol

4 deals

Broker

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