Colliers Mortgage Provides $13.4M Loan To Refinance Arcadia Pointe Apartments
4330 South Eastern Avenue
$13,361,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 15, 2023
AI
A $13,361,000 Fannie Mae loan has been secured by Colliers Mortgage's Phoenix team, led by Luke Donahue, for the refinancing of Arcadia Pointe Apartments in Las Vegas. The loan, arranged for CALCAP Real Estate Advisors, is a 10-year fixed-rate, full-term interest-only non-recourse loan. The refinance facilitated a cash-out option, enabling the borrower to recover all investor equity after repositioning the property.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $13,361,000
- Lender: Colliers Mortgage - Luke Donahue
- Landlord: CALCAP Real Estate Advisors - Edward Aloe
- Loan Type: Refinance
- Loan Terms: fixed rate 10-year full-term interest only non-recourse loan
The deal was made possible through the efforts of Luke Donahue from Colliers Mortgage and Edward Aloe from CALCAP Real Estate Advisors. The loan was structured to enable the borrower to recover their investor equity after repositioning Arcadia Pointe Apartments in Las Vegas.
Players
Las Vegas MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93