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PCCP Provides $60 Million Loan To J. Fisher Cos. For Downtown Salt Lake City Multifamily Project
FINANCED
$60,000,000
MultiFamily
Financed 01/31/2025
FINANCED
PCCP Provides $60 Million Loan To J. Fisher Cos. For Downtown Salt Lake City Multifamily Project
256 200 East
See Similar DealsMultiFamily
Financed 01/31/2025
Summary
UTAH
Asset Type:MultiFamily
Transaction Type:Loan
The Edison is a seven-story multifamily project located at 256 S 200 East in Salt Lake City, UT. This development will consist of 201 apartments and includes 7,800 square feet of retail space. Amenities will feature a pool, fitness center, and a coworking area. Construction is scheduled to begin in February 2025 and complete by February 2027, with a total loan amount of $60 million provided for this project.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $60,000,000
- Lender: PCCP
- Landlord: J. Fisher Cos.
- Market: Salt Lake City, UT
- Units: 201
- Retail Space: 7,800 square feet
- Loan Type: Construction
PCCP provided the loan to J. Fisher Cos., representing a significant investment in the Salt Lake City market. This development is anticipated to enhance the local community with residential units and retail options while offering various amenities to future residents.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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