Updated May 12, 2025
Midtown Capital Secures $31.5 Million Bridge Loan For 149-Unit Multifamily At 11 800 West
11 800 West
$32,000,000
$368/SF
Building Size
86,891 SF
Asset Type
MultiFamily
Closing
Apr 4, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 11 800 West in Salt Lake City, featuring 149 units and a total square footage of 86,891. The loan amount secured for this property is $31,500,000, structured as a two-year floating rate bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,500,000
- Asset Address: 11 800 West
- Market: Salt Lake City
- Units: 149
- Total Square Footage: 86,891
- Lender: RMWC
- Landlord: Midtown Capital
- Brokers: Mitch Sinberg, Scott Wadler, Matthew Robbins, Patrick Johnson & Brad Williamson - Berkadia
- Loan Type: Bridge
- Loan Terms: Two-year floating rate bridge loan
This transaction was facilitated by a team of brokers from Berkadia, including Mitch Sinberg, Scott Wadler, Matthew Robbins, Patrick Johnson, and Brad Williamson, who collectively represented the interests involved in this closed deal.
On the Map
$32,000,000
$368/SF
MultiFamily
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Players
Salt Lake City 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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93