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80 Cedar Way, Milpitas, Cal...

SRM Development Refinances Multifamily Property In Milpitas For $67M With Mesa West Capital
FINANCEDMultiFamily

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

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.

Players

Mesa West Capital
Mesa West CapitalLender
SRM Development
SRM DevelopmentLandlord

Milpitas MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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