Gantry Secures $27.8 Million Acquisition Loan For Multifamily Portfolio In Oakland With 225 Units
$27,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 20, 2025
AI
The transaction involves a portfolio of eight multifamily properties located in Oakland, consisting of a total of 225 apartments along with three commercial units. The assets were financed for an acquisition through a loan amounting to $27,800,000. The financing was facilitated in the context of a multifamily asset type, with a loan secured specifically for the purpose of acquiring these properties.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,800,000
- Units: 225
- Address: Multifamily Portfolio
- Market: Oakland
- Loan Type: Acquisition
- Loan Terms: three-year
- Loan Amount: $27,800,000
- Brokers: Erinn Cooke & Jeff Wilcox - Gantry
Erinn Cooke and Jeff Wilcox from Gantry represented the private real estate investor in securing the financing for this acquisition. The loan was arranged with an institutional debt fund, offering features such as prepayment flexibility and options for extension during its three-year term, catering to the financing needs of the investor.
Players
Market 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93