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AD Mortgage LLC Provides $7M Refinance Loan For Beverly Hills SFR On Summitridge Dr

Property Image
FINANCED
$7,000,000

California

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Single Family Residence7,500 SF
Financed 07/22/2022
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Property Image
FINANCED

AD Mortgage LLC Provides $7M Refinance Loan For Beverly Hills SFR On Summitridge Dr

2481 Summitridge Drive

See Similar Deals
Single Family Residence7,500 SF
Financed 07/22/2022
Contact now

Summary

CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$933
Total Square Footage:7,500 SF
Transaction Type:Loan

A single-family residence located at 2481 Summitridge Dr. in the Beverly Hills market has recently undergone a loan transaction. Spanning across 7,500 square feet, this property showcases a picturesque and inviting exterior. The loan, facilitated by AD Mortgage LLC, was brokered by Merica Mackey from Mac Mortgage Inc.

Summary of transaction details

  • Property Type: Single-Family Residence (SFR)
  • Transaction Amount: $7,000,000
  • Loan Type: Refinance
  • Loan Terms: 12 months bank statement loan

This transaction involved key individuals and companies, namely Merica Mackey from Mac Mortgage Inc., who represented the borrower throughout the process. The loan, amounting to $7,000,000, was secured to refinance the property. Notably, the loan terms included a 12-month bank statement loan, providing flexibility and convenience for the borrower.

Players

3 deals$1.8M volume
BROKER

AD Mortgage
LENDER

Details

FINANCED
IMAGE: Merica Mackey DATE: 07/22/2022 ADDRESS: 2481 Summitridge Dr. MARKET: Beverly Hills ASSET TYPE: SFR ~ SF: 7,500 LENDER: AD Mortgage LLC BROKER: Merica Mackey (@ItsMericaMackey) - Mac Mortgage Inc. (@MacMortgageInc) LOAN AMOUNT: $7,000,000 LOAN TYPE: Refinance LOAN TERMS: 12 months bank statement loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,000,000.00

Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00