Updated Oct 28, 2024
Spruce Grove Inc. Acquires Moreno Valley Multifamily For $28.2M With Loan From CIT Group Inc
Moreno Valley, CA, USA
$28,200,000
Units
135
Asset Type
MultiFamily
Closing
Aug 17, 2020
About this deal
AI
The multifamily property located in Moreno Valley has been involved in a recent closed transaction. The loan for the property was provided by CIT Group Inc., with a loan amount of $28,200,000. The landlord of the property is Spruce Grove Inc. The property consists of 135 units, making it an attractive investment in the market.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $28,200,000
- Market: Moreno Valley
- Lender: CIT Group Inc.
- Landlord: Spruce Grove Inc.
- Units: 135
The individuals involved in this transaction include Ellen Alemany as the representative for the loan. It is noteworthy to mention that the transaction took place on August 17, 2021. This deal showcases the ongoing activity and investment opportunities in the multifamily market of Moreno Valley.
Players
Moreno Valley 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93