Updated Mar 10, 2026
Fannie Mae Provides $82.89M Refinance Loan For 398-Unit Multifamily Property In Simi Valley
1518 Patricia Avenue
$82,885,000
Units
398
Asset Type
MultiFamily
Closing
Mar 5, 2026
About this deal
AI
The property asset involved in the transaction is a multifamily unit comprising 398 units located at 1518 Patricia Avenue in the Simi Valley market. The total loan amount is $82,885,000, with a refinance structure at an interest rate of 4.25% and a 5-Year Full Term Interest-Only repayment plan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $82,885,000
- Loan Type: Refinance
- Loan Terms: 4.25%, 5-Year Full Term Interest Only
- Lender: Fannie Mae
- Landlord: Daniel Nagel & David Nagel - Decron Properties
- Brokers: Mike Guterman & Jake Roberts - Bellwether Enterprise (BWE)
Key individuals involved in the deal include Daniel Nagel and David Nagel representing the landlord interests, while Mike Guterman and Jake Roberts comprise the brokerage team facilitating the transaction through Bellwether Enterprise (BWE).
Players
Simi Valley MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Michael "Mike" Guterman to view all their deals.
Browse Simi Valley multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93