Updated Dec 4, 2024
Marquee Funding Group Finances Luxury Single Family Home In Palm Springs With $3M Acquisition Loan
38894 Trinidad Circle
$3,000,000
$716/SF
Building Size
4,185 SF
Asset Type
Single Family
Closing
Apr 16, 2024
About this deal
AI
A luxury single-family home located in Palm Springs, CA, with a square footage of 4,185, situated at 38894 Trinidad Circle, was recently acquired with the assistance of an Acquisition Loan amounting to $3,000,000. The property, built as a resort-style home, was purchased on a ground lease.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $3,000,000
- Market: Palm Springs
- Lender: Steven Simantob - Marquee Funding Group
- Loan Type: Acquisition Loan
- Loan Terms: 24mo. I/O Fixed, 64% LTV
Marquee Funding Group, represented by Steven Simantob, facilitated the acquisition of the luxury single-family home on a ground lease in Palm Springs. Despite the unique nature of the transaction, Marquee Funding Group successfully funded the purchase, showcasing their ability to support complex real estate deals.
On the Map
$3,000,000
$716/SF
Single Family
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Players
Palm Springs Single Family Market Snapshot
Boundary boundary · Single Family · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93