Khosla Capital Secures $96.21 Million Refinance Loan For 360 Unit Multifamily In Hackensack

The property asset involved in this transaction is a multifamily building located at 300-310 Prospect Ave in Hackensack. The asset comprises 360 units and has a total square footage of 428,129. The loan amount secured for this asset is $96,213,000, structured as a refinance for a period of 5 years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $96,213,000
• Square Footage: 428,129
• Units: 360
• Address: 300-310 Prospect Ave
• Market: Hackensack
• Lender: Judah Hammer, Shawn Rosenthal, Jason Gaccione, Jake Salkovitz, Shamir Seidman & Shlomo Weissberg - CBRE
• Landlord: Raman Khosla - Khosla Capital
• Loan Type: Refinance
• Loan Terms: 5 Years
• Note Rate: 4.88%

This transaction highlights the involvement of CBRE as the lender, which arranged a $96.213MM Direct Freddie Mac Optigo® financing for Khosla Capital. The execution was strategically aligned with the borrower’s loan maturity, effectively recapitalizing the existing first mortgage and retiring the preferred equity stake. The firm is also noted for actively placing capital across various lending methods and asset classes, further emphasizing its extensive in-house products and relationships with capital providers.