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Matthews Real Estate Investment Services Arranges $13.3M Refinance Loan For Miracle Mile Multifamily Properties

Property Image
FINANCED
$13,345,000

California

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MultiFamily44,376 SF
Financed 03/04/2022
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Property Image
FINANCED

Matthews Real Estate Investment Services Arranges $13.3M Refinance Loan For Miracle Mile Multifamily Properties

865 Alandele Avenue, Los Angeles, California 90036, United States

See Similar Deals
MultiFamily44,376 SF
Financed 03/04/2022
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$300
Total Square Footage:44,376 SF
Transaction Type:Loan

The multifamily property located at 865-77 & 923 Alandele Avenue, 1055 S. Genesee Ave., 1104 S. Masselin Avenue, 1202 S. Cloverdale Ave., 1416 S. Hayworth Ave. & 2645 28th Street, encompassing a total of 44,376 square feet, has undergone a loan refinance transaction in the Miracle Mile, Mid-City, and Sunset Park markets. The property consists of 52 residential units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $13,345,000
  • Loan Type: Refinance
  • Loan Terms: 10 Year Fixed, 10 Years Interest-Only, 3.50% Interest Rate
  • Loan Amount: $13,345,000
  • Loan Terms: 10 Year Fixed, 10 Years Interest-Only, 3.50% Interest Rate, Non-recourse
  • Loan Prepayment: Stepdown prepay

The loan refinance transaction was facilitated by Gregory Kavoklis of Matthews Real Estate Investment Services. He served as the broker representing the parties involved in the deal.

Players

Gregory K. Kavoklis
Matthews
Gregory K. Kavoklis
12 deals$101.5M volume(805) 630-8143
BROKER

Details

FINANCED
IMAGE: Gregory Kavoklis DATE: 03/04/2022 ADDRESS: 865-77 & 923 Alandele Avenue, 1055 S. Genesee Ave., 1104 S. Masselin Avenue, 1202 S. Cloverdale Ave., 1416 S. Hayworth Ave. & 2645 28th Street MARKET: Miracle Mile, Mid-City, Sunset Park ASSET TYPE: Multifamily ~ SF: 44,376 ~ UNITS: 52 BROKER: Gregory Kavoklis (@GregoryKonstantine) - Matthews Real Estate Investment Services (@Matthews_REIS) LOAN AMOUNT: $13,345,000 LOAN TYPE: Refinance LOAN TERMS: 10 Year Fixed. 10 Years Interest-Only. 3.50%. Non-recourse. Stepdown prepay.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,345,000.00

Monthly NOI$88,966.67
Monthly Debt Service$84,349.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00