Scott Meredith Of George Smith Partners Secures $68.8M Loan For Student Housing In Merced
2980 E Yosemite Ave, Merced, CA, 95...
$68,800,000
Building Size
—
Asset Type
Student Housing
Closing
Dec 26, 2019
AI
The property involved in the transaction is a student housing asset located at 2980 E Yosemite Ave, Merced, CA. The loan for this property was facilitated on December 26, 2019, with a total amount of $68,800,000.00. The borrower's representative in this transaction was Scott Meredith from George Smith Partners, and the lender was Mosaic Real Estate Credit.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $68,800,000.00
- Address: 2980 E Yosemite Ave, Merced, CA
- Market: Merced
- Borrower's Rep: Scott Meredith(George Smith Partners)
- Lender: Mosaic Real Estate Credit
In this deal, Scott Meredith, representing George Smith Partners, played a crucial role as the borrower's representative. On the other side, Mosaic Real Estate Credit served as the lender for this substantial loan transaction.
Players
Merced Student Housing Market Snapshot
Boundary boundary · Student Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93