Updated Oct 29, 2024
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
About this deal
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.
On the Map
$68,800,000
Student Housing
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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