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Marcus & Millichap Arranges $5M Refinance For Larson Apartments In Garden Grove

Property Image
FINANCED
$5,000,000

California

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MultiFamily
Financed 03/22/2024
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Property Image
FINANCED

Marcus & Millichap Arranges $5M Refinance For Larson Apartments In Garden Grove

8101 Larson Avenue

See Similar Deals
MultiFamily
Financed 03/22/2024
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The property at 8101 Larson Avenue in Garden Grove is a Multifamily asset consisting of 21 units. The recent transaction involved a refinancing loan amounting to $5,000,000. The loan terms include a 30-year period, a 65% loan-to-value ratio, a 6.30% interest rate, and a 30-year amortization schedule.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,000,000
  • Address: 8101 Larson Avenue
  • Market: Garden Grove
  • Loan Type: Refinance
  • Loan Terms: 30-year loan with 65% loan-to-value ratio, 6.30% interest rate, and 30-year amortization

Ron Balys from Marcus & Millichap played a crucial role in securing the $5 million refinancing for Larson Apartments in Garden Grove. This transaction supported the client's business plan that was initially established with MMCC's acquisition financing in 2022.

Players

Ron Balys
Marcus & Millichap
Ron Balys
14 deals$177.9M volume
BROKER

Details

FINANCED
IMAGE: 03/22/2024 ADDRESS: 8101 Larson Avenue MARKET: Garden Grove ASSET TYPE: Multifamily ~ UNITS: 21 BROKER: Ron Balys - Marcus & Millichap LOAN AMOUNT: $5,000,000 LOAN TYPE: Refinance LOAN TERMS: 30-year loan include 65% loan-to-value and a 6.30% interest rate with 30-years amortization NOTE: Marcus & Millichap Capital Corporation arranged $5 million refinancing for Larson Apartments in Garden Grove, CA, with Ron Balys securing bank financing for a private client. The terms include a 65% loan-to-value ratio and a 6.30% interest rate, supporting the client's business plan initiated with MMCC's previous acquisition financing in 2022.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,000,000.00

Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00