Sunwest Bank Provides $15M Construction Loan For Santa Rosa Subdivision
FINANCED
$15,000,000
California
See Similar DealsOther180,774 SF
Financed 07/12/2020
FINANCED
Sunwest Bank Provides $15M Construction Loan For Santa Rosa Subdivision
2181 Francisco Avenue, Santa Rosa, CA, USA
See Similar DealsOther180,774 SF
Financed 07/12/2020
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$83
Total Square Footage:180,774 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,000,000.00
Monthly NOI$100,000.00
Monthly Debt Service$94,810.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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