Category Five Real Estate Secures $21 Million Loan From Santander For Sunrise Portfolio Acquisition

The transaction involves the acquisition of four vintage multifamily communities totaling 185 units located at 7041 Sunset Strip, 2108 Northwest 64th Avenue, Northwest 26th Street, and 2650 Northwest 64th Avenue in the Sunrise market. The total loan amount for this acquisition is $21,000,000 with a structure that includes a five-year fixed-rate loan featuring two years of interest-only payments and a 30-year amortization period.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $21,000,000
• Lender: Santander
• Landlord: Mike Peisach & Leon Peisach - Category Five Real Estate; Peter Triano - Santander
• Brokers: Brad Williamson, Mitch Sinberg, Matthew Robbins & Scott Wadler - Berkadia
• Loan Type: Acquisition Loan
• Loan Terms: five-year, fixed-rate loan with two years interest-only and 30-year amortization

Berkadia secured financing on behalf of Category Five Ventures, represented by brothers Mike and Leon Peisach, for the acquisition of the Sunrise Portfolio. The brokerage team involved in this transaction includes Brad Williamson, Mitch Sinberg, Matthew Robbins, and Scott Wadler.