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Berkadia Arranges $46.75M Refinancing For Arbor Park Apartments In Upland For NNC Apartment Ventures

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FINANCED
$46,750,000

California

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MultiFamily
Financed 11/18/2024
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Property Image
FINANCED

Berkadia Arranges $46.75M Refinancing For Arbor Park Apartments In Upland For NNC Apartment Ventures

859 North Mountain Avenue

See Similar Deals
MultiFamily
Financed 11/18/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

Arbor Park Apartments is a 260-unit multifamily property located at 859 North Mountain Avenue in Upland, CA. The recent refinancing was arranged for a total amount of $46,750,000 utilizing a seven-year loan term with interest-only payments at a rate of 4.6%. This refinancing aims to support property upgrades while maintaining solid cash flow.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $46,750,000
  • Loan Type: Refinance
  • Loan Terms: seven-year, interest only
  • Units: 260
  • Landlord: NNC Apartment Ventures
  • Broker: Allan Freedman - Berkadia
  • Date: 11/18/2024

Allan Freedman represented Berkadia in arranging the loan for NNC Apartment Ventures. The refinancing endeavor is intended to facilitate necessary upgrades to the property, ensuring it continues to generate consistent cash flow over the loan duration.

Players

Allan Freedman
Berkadia
Allan Freedman
4 deals$191.5M volume(310) 209-3243
BROKER

Details

FINANCED
IMAGE: Allan Freedman DATE: 11/18/2024 ADDRESS: 859 North Mountain Avenue MARKET: Upland ASSET TYPE: Multifamily ~ UNITS: 260 LANDLORD: NNC Apartment Ventures BROKER: Allan Freedman - Berkadia (@Berkadia) LOAN AMOUNT: $46,750,000 LOAN TYPE: Refinance LOAN TERMS: seven-year, interest only NOTE: Berkadia arranged a $46.75 million refinancing for Arbor Park Apartments, a 260-unit multifamily property in Upland, CA, on behalf of NNC Apartment Ventures. The seven-year loan features a 4.6% interest rate and will support property upgrades while maintaining solid cash flow.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$46,750,000.00

Monthly NOI$311,666.67
Monthly Debt Service$295,491.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00