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LDK Ventures Secures $59.3M Loan For 300-Unit Multifamily Property On Damonte Ranch Parkway In Reno, Nevada

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FINANCED
$59,300,000

Nevada

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MultiFamily
Financed 09/21/2022
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Property Image
FINANCED

LDK Ventures Secures $59.3M Loan For 300-Unit Multifamily Property On Damonte Ranch Parkway In Reno, Nevada

875 Damonte Ranch Parkway, Reno, Nevada 89521, United States

See Similar Deals
MultiFamily
Financed 09/21/2022
the dealplayerscompscontact
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Summary

NEVADA
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 875 Damonte Ranch Parkway in Reno, Nevada has been involved in a closed transaction. The property consists of 300 units and spans across 12 acres. The transaction details provide insights into the loan, lender, landlord, and developer involved in the deal.

Summary of transaction details

  • Property Type: Multifamily
  • Loan Amount: $59,300,000
  • Address: 875 Damonte Ranch Parkway, Reno, Nevada
  • Market: Reno, Nevada
  • Units: 300
  • Acres: 12

PCCP LLC served as the lender in this transaction, providing a loan amount of $59,300,000. The landlord for the property is LDK Ventures, while the developer involved in the deal is Panther Residential Management.

Players

Pacific Coast Capital Partners (PCCP)
Pacific Coast Capital Partners (PCCP)
LENDER
LV
LDK Ventures
LANDLORD

Details

FINANCED
IMAGE: 09/21/2022 ADDRESS: 875 Damonte Ranch Parkway MARKET: Reno, Nevada ASSET TYPE: Multifamily ~ UNITS: 300 ~ ACRES: 12 LENDER: PCCP LLC LANDLORD: LDK Ventures DEVELOPER: Panther Residential Management LOAN AMOUNT: $59,300,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$59,300,000.00

Monthly NOI$395,333.33
Monthly Debt Service$374,816.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00