Convoy Capital Secures $21.8M Loan For Multifamily Property In Sherman Oaks
Sherman Oaks, Los Angeles, CA, USA
$21,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 12, 2020
AI
A multifamily property in Sherman Oaks recently closed a loan transaction, with a loan amount of $21,800,000. The loan terms include a 5-year fixed rate at 3.25% and a prepayment penalty of 2-1-0-0-0%. The borrower also had the option for a cash-out refinance.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,800,000
- Market: Sherman Oaks
Tyler Bradford of Convoy Capital represented the parties involved in this loan transaction.
Players
Sherman Oaks 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
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93