Sunwest Bank Provides $15M Construction Loan For Santa Rosa Subdivision
2181 Francisco Avenue, Santa Rosa, CA, USA
$15,000,000
$83/SF
Building Size
180,774 SF
Asset Type
Other
Closing
Jul 12, 2020
AI
A loan of $15,000,000 was secured for the development of a 30-home, phased subdivision located at 2181 Francisco Avenue in Santa Rosa. The loan was provided by Sunwest Bank at a rate of 4.25%. The loan terms indicate a loan-to-cost ratio (LTC) of 85% and a loan-to-value ratio (LTV) of 68%.
Summary of transaction details:
- Property Type: Subdivision
- Transaction Amount: $15,000,000
- Address: 2181 Francisco Avenue, Santa Rosa
- Market: Santa Rosa
- Lender: Sunwest Bank
- Landlord: Morgan Properties
- Brokers: Cameron Huard & Will Macfee - WelcomeLend
Cameron Huard and Will Macfee from WelcomeLend represented the parties involved in the transaction.
Players
Santa Rosa Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93