Garron Robinson Of Centennial Bank Provides $27.9M Refinance Loan For Multifamily Property In Santa Maria
Blosser Road
$27,900,000
$4/SF
Building Size
7,000,000 SF
Asset Type
MultiFamily
Closing
Jun 14, 2024
AI
The asset involved is a multifamily property located at 1001-1057 W. Stowell Road in Santa Maria. The property spans a total of 7,000,000 square feet and is part of the market making this loan transaction significant for the area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,900,000
- Lender: Garron Robinson - Centennial Bank
- Broker: Zachary Streit - Priority Capital Advisory
- Loan Type: Refinance
- Date of Transaction: 06/14/2024
Key individuals involved in the transaction include Garron Robinson from Centennial Bank, who served as the lender, and broker Zachary Streit from Priority Capital Advisory, who facilitated the refinancing deal for the multifamily asset.
Players
Santa Maria 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93