Signature Bank Provides $80.75M Refinance Loan For Palm Springs & Redlands Multifamily Property
FINANCED
$80,750,000
California
See Similar DealsMultiFamily
Financed 06/28/2022
FINANCED
Signature Bank Provides $80.75M Refinance Loan For Palm Springs & Redlands Multifamily Property
Redlands, California, United States
See Similar DealsMultiFamily
Financed 06/28/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located in Palm Springs & Redlands, CA has recently undergone a loan refinancing transaction. Led by Joe Fingerman from Signature Bank, this transaction was facilitated by brokers Chaim Tessler and Ariel Forman from Meridian Capital Group.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $80,750,000
- Loan Type: Refinance
This transaction marks an important milestone for the property owners, as they were able to secure a loan amount of $80,750,000 through the refinancing process. The involvement of Joe Fingerman from Signature Bank as the lender highlights the trust and confidence placed in the property's potential. Additionally, Chaim Tessler and Ariel Forman from Meridian Capital Group played a crucial role in facilitating this transaction, showcasing their expertise and commitment to their clients.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$80,750,000.00
Monthly NOI$538,333.33
Monthly Debt Service$510,394.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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