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De Anza Properties Secures $78M Loan For Multifamily Property At 360 State Street In Orem, UT

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FINANCED
$78,000,000

Utah

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MultiFamily
Financed 01/19/2024
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Property Image
FINANCED

De Anza Properties Secures $78M Loan For Multifamily Property At 360 State Street In Orem, UT

360 State Street

See Similar Deals
MultiFamily
Financed 01/19/2024
the dealplayerscompscontact
Contact now

Summary

UTAH
Asset Type:MultiFamily
Transaction Type:Loan

De Anza Properties has secured a $78 million financing deal for its Multifamily property located at 360 State Street in Orem, UT. The property consists of 494 units and is part of the Salt Lake City Midtown 360 development.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $78,000,000
  • Address: 360 State Street, Orem, UT
  • Market: Orem, UT
  • Units: 494

The financing for the property was arranged by John Bradshaw of NorthMarq, who represented De Anza Properties in the deal. The loan was arranged through NorthMarq's Fannie Mae DUS platform and is a permanent fixed-rate loan.

Players

John Bradshaw
NorthMarq
John Bradshaw
4 deals$78M volume(801) 273-4100
BROKER

Details

FINANCED
IMAGE: John Bradshaw DATE: 01/19/2024 ADDRESS: 360 State Street MARKET: Orem, UT ASSET TYPE: Multifamily ~ UNITS: 494 LANDLORD: De Anza Properties BROKER: John Bradshaw - NorthMarq (@Northmarq) LOAN AMOUNT: $78,000,000 NOTE: De Anza Properties has secured a $78 million financing deal for its Salt Lake City Midtown 360 property, with Northmarq arranging the permanent fixed-rate loan through its Fannie Mae DUS platform.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$78,000,000.00

Monthly NOI$520,000.00
Monthly Debt Service$493,013.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00