Zev Feder & Satyam Patel Arrange $15.1M Refinance Loan On Los Angeles Multifamily
748 South Kingsley Drive & 762 South Kingsley Drive
$15,125,000
$191/SF
Building Size
79,002 SF
Asset Type
MultiFamily
Closing
Jun 28, 2024
AI
The multifamily property located at 748-762 South Kingsley Drive in Los Angeles encompasses 68 units within a total square footage of 39,501. The property was part of a recent transaction involving a refinance loan from EverBank amounting to $15,125,000. The loan terms included new construction, lease-up transaction, a 5-year term, with the first 4 years being interest-only.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,125,000
- Market: Los Angeles
- Asset Type: Multifamily
- Units: 68
- Square Footage: 39,501
- Lender: EverBank
- Brokers: Zev Feder & Satyam Patel - Meridian Capital Group
- Loan Type: Refinance
- Loan Terms: New Construction, Lease-up Transaction, 5 Year Term, 4 Years Interest-Only
The transaction was facilitated by the brokers Zev Feder and Satyam Patel from Meridian Capital Group. The involvement of these professionals highlights the expertise and industry connections required to successfully navigate such significant financial deals.
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
1.05%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93