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Freddie Mac & Housing Authority Of The City Of Los Angeles Provide $58M Loan For Watts Multifamily Property

Property Image
FINANCED
$58,000,000

California

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MultiFamily
Financed 04/01/2020
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Property Image
FINANCED

Freddie Mac & Housing Authority Of The City Of Los Angeles Provide $58M Loan For Watts Multifamily Property

9800 Grape Street, Watts, Los Angeles, CA, USA

See Similar Deals
MultiFamily
Financed 04/01/2020
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

Located at 9800 Grape St in Watts, this multifamily property recently closed a transaction. The property consists of 92 units and was sold for a loan amount of $58,000,000. The deal was financed by Freddie Mac and the Housing Authority of the City of Los Angeles. The property is owned by The Michaels Organization and BRIDGE Housing.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $58,000,000
  • Address: 9800 Grape St
  • Market: Watts
  • Lender: Freddie Mac & Housing Authority of the City of Los Angeles
  • Landlord: The Michaels Organization & BRIDGE Housing
  • Units: 92

The loan was facilitated by David Brickman.

Players

Freddie Mac
Freddie Mac
LENDER
TO
The Michaels Organization
LANDLORD

Details

FINANCED
IMAGE: David Brickman DATE: 04/01/2020 ADDRESS: 9800 Grape St MARKET: Watts ASSET TYPE: Multifamily LENDER: Freddie Mac & Housing Authority of the City of Los Angeles LANDLORD: The Michaels Organization & BRIGE Housing LOAN AMOUNT: $58,000,000 UNITS: 92

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$58,000,000.00

Monthly NOI$386,666.67
Monthly Debt Service$366,599.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00