Updated May 12, 2025
Argenic Secures $60.7M Bridge Loan For 378-Unit Apartment Community In West Haven Utah
1575 Riverwalk Drive
$60,700,000
Units
378
Asset Type
MultiFamily
Closing
Mar 13, 2025
About this deal
AI
The asset involved in the transaction is a multifamily property located at 1575 Riverwalk Drive in West Haven, Utah. This apartment community contains 378 units and has a bridge loan amount of $60,700,000 secured by Argenic to refinance the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $60,700,000
- Loan Type: Bridge
- Landlord: Argenic
- Brokers: Ben Vroman, Bracken Ostler & Nate Barnson - NorthMarq
The transaction was facilitated by brokers Ben Vroman, Bracken Ostler, and Nate Barnson representing NorthMarq, who played a key role in the refinancing process for the 378-unit apartment community at Riverwalk.
Players
Ogden 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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93