Updated Oct 28, 2024
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
$59,300,000
Units
300
Asset Type
MultiFamily
Closing
Sep 20, 2022
About this deal
AI
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.
On the Map
$59,300,000
MultiFamily
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Players
Reno 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93