Artemis Real Estate Partners And Preserve Partners Secure $67.79M Freddie Mac Loan For Enclave At Redwood
3810 S Redwood Rd
$67,790,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 31, 2024
AI
The asset involved in this transaction is a 486-unit garden-style multifamily property located at 3810 S Redwood Rd, West Valley City, Utah. The property was acquired with a loan amount of $67,790,000 provided by Freddie Mac, specifically for acquisition purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $67,790,000
- Address: 3810 S Redwood Rd
- Market: West Valley City, UT
- Lender: Freddie Mac
- Landlord: Artemis Real Estate Partners & Preserve Partners
- Broker Representatives: Michael Slovitt, Miles Drinkwalter, Patrick Cunningham, Patrick McGlohn, Natalie Hershey & Hunter Wood - Berkadia
Berkadia facilitated the financing of Enclave at Redwood, highlighting the involvement of multiple broker representatives in securing the acquisition loan for the buyers, Artemis Real Estate Partners and Preserve Partners, contributing to the successful closure of this transaction.
Players
West Valley 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
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93