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1777 Wewatta Street

Iconiq Capital Secures $525 Million Refinance Loan From Goldman Sachs And Deutsche Bank For Multifamily Asset
FINANCEDMultiFamily

Iconiq Capital Secures $525 Million Refinance Loan From Goldman Sachs And Deutsche Bank For Multifamily Asset

1777 Wewatta Street

$525,000,000

$276/SF

Building Size

1,900,000 SF

Asset Type

MultiFamily

Closing

Nov 5, 2024

AI

The property asset involved in this transaction is a multifamily structure located at 1777 Wewatta Street, Denver, CO. The property comprises 1,900,000 square feet and includes 1,790 units. It has been refinanced for a loan amount of $525,000,000.

Summary of transaction details:

The key individuals and companies involved in this deal include the lenders David Solomon from Goldman Sachs and Christian Sewig from Deutsche Bank. The landlord, Divesh Makan, represents Iconiq Capital, while the broker representatives from Newmark include Jonathan Firestone, Jordan Roeschlaub, Blake Thompson, Nick Scribani, and Bill Fishel.

Players

Nick Scribani

Newmark

Broker

$55.9B

vol

198 deals

Broker
JLL
JLLBrokerage
Goldman Sachs
Goldman SachsLender

Denver MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.03%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93