CAI Capital Acquires Mixed-Use Property In Reno, NV With $141.9M Construction Loan
219 North Center Street, Reno, Nevada 89501, United States
$141,919,000
$94/SF
Building Size
1,500,000 SF
Asset Type
Mixed-use
Closing
Jun 26, 2022
AI
219 N Center St is a mixed-use property located in Reno, NV. With a total square footage of 1,500,000, this property serves as a versatile space for various purposes.
Summary of transaction details
- Property Type: Mixed use
- Transaction Amount: $141,919,000
- Loan Type: Construction
In this transaction, Acore Capital represented by Kyle Jeffers provided a loan of $141,919,000 to CAI Capital, represented by Chris Beavor. The loan was intended for construction purposes. Mike Guterman from Highland Realty Capital acted as the broker in facilitating the deal.
Players
Reno Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93