Gemdale USA Secures $94.3M Construction Loan For Multifamily Property In Pleasant Hill
FINANCED
$94,300,000
+ 1
California
See Similar DealsMultiFamily
Financed 07/22/2022
FINANCED
Gemdale USA Secures $94.3M Construction Loan For Multifamily Property In Pleasant Hill
85 Cleaveland Road, Pleasant Hill, California 94523, United States
See Similar DealsMultiFamily
Financed 07/22/2022
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 85 Cleaveland Road in Pleasant Hill has been involved in a recent transaction. The deal, which took place on 07/22/2022, was facilitated by Gemdale USA, the landlord of the property. Bank OZK provided a construction loan of $94,300,000 for this transaction. The property has an address of 85 Cleaveland Road and is situated in the Pleasant Hill market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $94,300,000
- Lender: Bank OZK
- Landlord: Gemdale USA
- Brokers: Brandon Roth, Nicco Lupo, Jordan Angel & Tatiana Hodapp - JLL Capital Markets
JLL Capital Markets represented the parties involved in the transaction, with Brandon Roth, Nicco Lupo, Jordan Angel, and Tatiana Hodapp serving as brokers. This deal marks a significant development in the multifamily property market in Pleasant Hill.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$94,300,000.00
Monthly NOI$628,666.67
Monthly Debt Service$596,040.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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