PPM America Provides $21 Million Refinance For 213-Unit Multifamily Property In Novato, CA
$21,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 7, 2026
AI
A refinancing transaction occurred involving a 213-unit multifamily property in Novato, California. This asset is distinctive in the Northern California market, reflecting ongoing lender demand for multifamily properties in the region.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,000,000
- Lender: PPM America
- Broker: Jeff Glenn - Slatt Capital
- Loan Type: Refinance
- Loan Terms: 10-year term with a 30-year amortization schedule
Jeff Glenn of Slatt Capital arranged the non-recourse permanent refinancing for the property, providing long-term fixed-rate financing for the stabilized asset. This arrangement demonstrates the active involvement of Slatt Capital in facilitating financing solutions for multifamily developments in Novato.
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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93