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:
- Property Type: Multifamily
- Transaction Amount: $525,000,000
- Address: 1777 Wewatta Street
- Market: Denver, CO
- Lender: Goldman Sachs - David Solomon & Deutsche Bank - Christian Sewig
- Landlord: Iconiq Capital - Divesh Makan
- Brokers: Jonathan Firestone, Jordan Roeschlaub, Blake Thompson, Nick Scribani & Bill Fishel - Newmark
- Loan Type: Refinance
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
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