Harridge Development, Silverpeak, And Cerberus Secure $110M Loan For Single Family Lots In San Pedro
FINANCED
$110,000,000
California
See Similar DealsSingle Family Residence2,986 SF
Financed 04/20/2021
FINANCED
Harridge Development, Silverpeak, And Cerberus Secure $110M Loan For Single Family Lots In San Pedro
27812 South Western Avenue, San Pedro, CA, USA
See Similar DealsSingle Family Residence2,986 SF
Financed 04/20/2021
Summary
CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$36,838
Total Square Footage:2,986 SF
Transaction Type:Loan
The property involved in this transaction is located at 27812 South Western Avenue in San Pedro. It is a single family lot with a total of 676 units. The transaction took place on April 20, 2021.
Summary of transaction details:
- Property Type: Single Family Lots
- Transaction Amount: $110,000,000
- Address: 27812 South Western Avenue
- Market: San Pedro
- Units: 676
The lender in this deal was Madison Realty Capital, represented by Josh Zegen. The landlords involved in the transaction were Harridge Development, Silverpeak Real Estate Partners, and Cerberus Capital Management. Maverick Commercial Properties, represented by Adi Chugh, acted as the broker.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$110,000,000.00
Monthly NOI$733,333.33
Monthly Debt Service$695,274.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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