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Blosser Road

Garron Robinson Of Centennial Bank Provides $27.9M Refinance Loan For Multifamily Property In Santa Maria
FINANCEDMultiFamily

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:

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

Zachary Streit

Priority Capital Advisory

Broker

$1.1B

vol

26 deals

Broker
Priority Capital Advisory
Priority Capital AdvisoryBrokerage
Centennial Bank
Centennial BankLender

Santa Maria MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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