Updated Dec 21, 2023
George Smith Partners Arranges $120.1M Permanent Loan For Multifamily Property On W Temple St, Los Angeles
909 West Temple Street, Los Angeles, California 90012, United States
$120,100,000
Units
526
Asset Type
MultiFamily
Closing
Oct 24, 2022
About this deal
AI
A multifamily property with 526 units located at 909 W Temple St in Los Angeles has been involved in a recent loan transaction. The loan was facilitated by brokers Gary Tenzer and Dasha Savchenko from George Smith Partners.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $120,100,000
- Loan Type: Permanent Loan
- Loan Terms: 10 years at 4.38 percent with interest-only payments for the first seven years
- Brokers: Gary Tenzer & Dasha Savchenko - George Smith Partners
The loan amount for this transaction was $120,100,000. It was a permanent loan with a term of 10 years and an interest rate of 4.38 percent. Interest-only payments were allowed for the first seven years of the loan.
Players
Los Angeles 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93