Updated Oct 28, 2024
SRM Development Refinances Multifamily Property In Milpitas For $67M With Mesa West Capital
80 Cedar Way, Milpitas, California 95035, United States
$67,000,000
Units
166
Asset Type
MultiFamily
Closing
Mar 13, 2022
About this deal
AI
The multifamily property located at 80 Cedar Wy in Milpitas has undergone a loan refinancing transaction. The property consists of 166 units and is owned by SRM Development.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $67,000,000
- Address: 80 Cedar Wy, Milpitas
- Market: Milpitas
- Lender: Mesa West Capital - Matt Snyder
- Landlord: SRM Development
Mesa West Capital, represented by Matt Snyder, provided the loan for the refinancing of the multifamily property at 80 Cedar Wy. This transaction enables SRM Development to optimize their financing and continue managing the property effectively.
On the Map
$67,000,000
MultiFamily
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Players
Milpitas 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93