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Raintree Partners Secures $91M Loan For Multifamily Properties In Ventura & Corona, CA

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FINANCED
$91,000,000

California

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MultiFamily
Financed 10/12/2022
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Property Image
FINANCED

Raintree Partners Secures $91M Loan For Multifamily Properties In Ventura & Corona, CA

848 Weber Circle, Ventura, California 93003, United States

See Similar Deals
MultiFamily
Financed 10/12/2022
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

Raintree Partners has secured a $91 million loan from Capital One for the acquisition of two multifamily properties. The properties are located at 848 Weber Cir and 1171 E Baywood Dr in Ventura and Corona, CA, respectively. The multifamily assets consist of a total of 900 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $91,000,000
  • Loan Terms: 10-year loan, with five years of interest-only payments, will be amortized over a 30-year schedule

The loan was facilitated by Capital One's Agency Finance team, with Kristen Croxton, Greg Reed, and Tina Quirin overseeing the transaction. Aaron Hancock, representing Raintree Partners, acted as the landlord in the deal.

Players

Capital One
Capital One
LENDER
AH
Aaron Hancock
3 deals$188.1M volume
LANDLORD

Details

FINANCED
IMAGE: Aaron Hancock DATE: 10/12/2022 ADDRESS: 848 Weber Cir & 1171 E Baywood Dr MARKET: Ventura & Corona, CA ASSET TYPE: Multifamily ~ UNITS: 900 LENDER: Capital One (@CapitalOne) - Kristen Croxton (@KristenLockwoodCroxton), Greg Reed & Tina Quirin (@TQR2512) - Agency Finance LANDLORD: Raintree Partners - Aaron Hancock (@Aaron_Hancock) LOAN AMOUNT: $91,000,000 LOAN TERMS: 10-year loan, with five years of interest-only payments, will be amortized over a 30-year schedule

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$91,000,000.00

Monthly NOI$606,666.67
Monthly Debt Service$575,181.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00