Updated Dec 4, 2024
PGIM Real Estate Grants $114.61M Loan For Ventana Multifamily In Playa Vista
7225 South Crescent Park West
$114,610,000
Units
405
Asset Type
MultiFamily
Closing
Sep 21, 2023
About this deal
AI
PGIM Real Estate has provided a fixed-rate financing of $114.61 million for Ventana, a 405-unit apartment complex in Playa Vista, California. The property, located in the Silicon Beach area, is owned by Barings Real Estate. Ventana spans across 6.2 acres and offers a variety of rental units and amenities.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $114,610,000
- Address: 7225 South Crescent Park
- Market: Playa Vista
- Units: 405
- Acres: 6.2
This transaction involved PGIM Real Estate providing the financing and Cathy Marcus representing the lender. Barings Real Estate, represented by Mike Freno, serves as the landlord of the Ventana apartment complex.
Players
Playa Vista MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Playa Vista multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93