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Marcus & Millichap Capital Corporation Secures $3M Loan For Multifamily Construction In Los Angeles

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FINANCED
$3,000,000

California

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MultiFamily
Financed 09/04/2024
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Property Image
FINANCED

Marcus & Millichap Capital Corporation Secures $3M Loan For Multifamily Construction In Los Angeles

728 Robinson Street

See Similar Deals
MultiFamily
Financed 09/04/2024
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

A construction loan has been secured for a multifamily property located at 728 Robinson Street in Los Angeles. The loan amount is $3,000,000 with a loan-to-cost ratio of 80%. The financing is characterized by a 9% interest rate and a 7.75% floor rate.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,000,000
  • Loan Type: Construction
  • Loan-to-Cost Ratio: 80%
  • Interest Rate: 9%
  • Floor Rate: 7.75%

Bradley Buzil from Marcus & Millichap Capital Corporation was the broker responsible for securing the financing for this construction project. The loan offers favorable terms in light of expectations for future rate cuts.

Players

Bradley Buzil
Marcus & Millichap
Bradley Buzil
13 deals$105.7M volume(312) 888-1525
BROKER

Details

FINANCED
IMAGE: Bradley Buzil DATE: 09/04/2024 ADDRESS: 728 Robinson Street MARKET: Los Angeles ASSET TYPE: Multifamily BROKER: Bradley Buzil (@BBuzil) - Marcus & Millichap Capital Corporation (@MMCapCorp) LOAN AMOUNT: $3,000,000 LOAN TYPE: Construction NOTE: Marcus & Millichap Capital Corporation secured $3M in financing for the construction of a multifamily property at 728 Robinson Street in Los Angeles. The 80% loan-to-cost construction loan features a 9% interest rate and 7.75% floor rate, offering favorable terms amid anticipated rate cuts.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,000,000.00

Monthly NOI$20,000.00
Monthly Debt Service$18,962.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00