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Marcus & Millichap Capital Corporation Secures $4.95 Million Loan For Olive Tree Apartments In Santee

Property Image
FINANCED
$4,950,000

California

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MultiFamily
Financed 12/11/2024
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Property Image
FINANCED

Marcus & Millichap Capital Corporation Secures $4.95 Million Loan For Olive Tree Apartments In Santee

8858 Olive Lane

See Similar Deals
MultiFamily
Financed 12/11/2024
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The Olive Tree Apartments is a multifamily asset located at 8858 Olive Lane in Santee, California, consisting of 26 units. The property was involved in a financing transaction of $4,950,000, structured with a 3-year loan period, secured through a California-based bridge fund, featuring an interest rate of 8.5% and a 65% loan-to-value ratio.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,950,000
  • Loan Terms: 3-year
  • Units: 26
  • Address: 8858 Olive Lane
  • Market: Santee
  • Interest Rate: 8.5%
  • Loan-to-Value: 65%
  • Broker: Chad O’Connor - Marcus & Millichap Capital Corporation

Chad O’Connor, representing Marcus & Millichap Capital Corporation, was instrumental in arranging the financing for the acquisition of The Olive Tree Apartments. The transaction unfolded in the Santee market, highlighting the involvement of a bridge fund for securing the loan related to this multifamily investment.

Players

Chad O’Connor
Marcus & Millichap
Chad O’Connor
27 deals$267.3M volume
BROKER

Details

FINANCED
IMAGE: Chad O’Connor DATE: 12/11/2024 ADDRESS: 8858 Olive Lane MARKET: Santee ASSET TYPE: Multifamily ~ UNITS: 26 BROKER: Chad O’Connor (@ChadOConnor5) - Marcus & Millichap Capital Corporation (@MMCapCorp) LOAN AMOUNT: $4,950,000 LOAN TERMS: 3-year NOTE: Marcus & Millichap Capital Corporation arranged $4.95 million in financing for the acquisition of The Olive Tree Apartments, a 26-unit property in Santee, California. The 3-year loan, secured through a California-based bridge fund, carries an 8.5% interest rate and a 65% loan-to-value.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,950,000.00

Monthly NOI$33,000.00
Monthly Debt Service$31,287.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00