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Zalmi Klyne Of Northmarq Secures $14M Construction Loan For UCLA Student Housing

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FINANCED
$14,000,000

California

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Student Housing
Financed 06/20/2023
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FINANCED

Zalmi Klyne Of Northmarq Secures $14M Construction Loan For UCLA Student Housing

535 Glenrock Ave Los Angeles, CA 90024, USA

See Similar Deals
Student Housing
Financed 06/20/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Student Housing
Transaction Type:Loan

Zalmi Klyne of Northmarq's Los Angeles office secured a $14 million construction loan for a student housing project near UCLA located at 535 Glenrock Avenue. The project will consist of a new six-story building with 134 beds and modern amenities. Its convenient proximity to the university makes it an ideal choice for students.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $14,000,000
  • Address: 535 Glenrock Avenue
  • Market: Los Angeles
  • Asset Type: Student Housing
  • Acres: 0.19

Zalmi Klyne, representing Northmarq, worked diligently to secure the construction financing for this student housing project. The development will provide much-needed housing for UCLA students and enhance their living experience with its modern amenities and close proximity to the university.

Players

Zalmi Klyne
NorthMarq
Zalmi Klyne
9 deals$184.5M volume
BROKER

Details

FINANCED
IMAGE: Zalmi Klyne DATE: 06/20/2023 ADDRESS: 535 Glenrock Avenue MARKET: Los Angeles ASSET TYPE: Student Housing ~ ACRES: 0.19 BROKER: Zalmi Klyne - Northmarq (@Northmarq) LOAN AMOUNT: $14,000,000 LOAN TYPE: Construction Loan NOTE: Zalmi Klyne of Northmarq's Los Angeles office secured $14 million in construction financing for a student housing project near UCLA. The development will feature a new six-story building with 134 beds, modern amenities, and convenient proximity to the university.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,000,000.00

Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00