CBRE Arranges $67M Recapitalization Loan For 235-Unit Multifamily Property In Mukilteo, WA
12101 Greenhave Lane, Mukilteo, Washington 98275, United States
$67,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 11, 2022
AI
The property involved in the transaction is a multifamily asset located at 12101 Greenhaven Lane in Mukilteo, WA. The asset consists of 235 units. The transaction took place on July 12, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $67,000,000
- Market: Mukilteo, WA
- Landlord: Holland Partner Group & Principal Real Estate Investors
- Brokers: Nick Santangelo, Matt Thorp & Rick Brody - CBRE
The loan obtained for the transaction is a recapitalization loan. The loan amount is $67,000,000. It is a five-year, floating-rate, full-term, interest-only bank loan.
Players
Mukilteo 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93