Updated Oct 28, 2024
Raintree Partners Secures $91M Loan For Multifamily Properties In Ventura & Corona, CA
848 Weber Circle, Ventura, California 93003, United States
$91,000,000
Units
900
Asset Type
MultiFamily
Closing
Oct 11, 2022
About this deal
AI
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
Ventura 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93