Goodman Capital Provides $31 Million Construction Loan For Multifamily Development In San Diego
FINANCED
$31,000,000
California
See Similar DealsMultiFamily56,910 SF
Financed 11/12/2025
FINANCED
Goodman Capital Provides $31 Million Construction Loan For Multifamily Development In San Diego
3636 4th Avenue
See Similar DealsMultiFamily56,910 SF
Financed 11/12/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$544
Total Square Footage:56,910 SF
Transaction Type:Loan
The property asset involved is a multifamily complex located at 3636 4th Avenue in San Diego, CA. The asset encompasses 56,910 square feet and consists of 74 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Loan Type: Construction
- Loan Terms: 24 months
- Lender: Goodman Capital - Eric Goodman & Etan Slomovic; SteepRock Capital - Connor Rosenbaum
- Landlord: Built Development
- Broker: Jeff Sause - JLL
The deal features prominent individuals including Eric Goodman and Etan Slomovic from Goodman Capital, along with Connor Rosenbaum from SteepRock Capital. Jeff Sause represents the transaction as the broker affiliated with JLL.
Players
LENDER
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,000,000.00
Monthly NOI$206,666.67
Monthly Debt Service$195,941.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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