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1518 Patricia Avenue

Fannie Mae Provides $82.89M Refinance Loan For 398-Unit Multifamily Property In Simi Valley
FINANCEDMultiFamily

Fannie Mae Provides $82.89M Refinance Loan For 398-Unit Multifamily Property In Simi Valley

1518 Patricia Avenue

$82,885,000

Building Size

Asset Type

MultiFamily

Closing

Mar 5, 2026

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

Michael Guterman

Bellwether Enterprise (BWE)

Broker

$621.5M

vol

14 deals

Broker
Fannie Mae
Fannie MaeLender
David Nagel

David Nagel

Decron Properties

Landlord

$680.7M

vol

8 deals

Landlord
Decron Properties
Decron PropertiesLandlord

Simi 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

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93