Convoy Capital Arranges $25M Loan For Pacific Palisades Multifamily Property
Pacific Palisades, Los Angeles, CA, USA
$25,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 27, 2021
AI
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,000,000
The asset involved in this transaction is a multifamily property located in Pacific Palisades. The loan for this property was secured on April 27, 2021, with a loan amount of $25,000,000. The terms of the loan include a 5-year fixed term with a 3.20% interest rate and a 3-2-1% prepayment penalty. The purpose of the loan is a max cash-out refinance.
Representing the transaction are brokers Tyler Bradford from TBradford1010 and Convoy Capital from Convoy_Capital.
Players
Santa Monica 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93