FINANCEDMultiFamily
Crossmark Capital Secures $23M Loan From Berkadia For Multifamily Asset In Lacey
6205 Pacific Ave SE, Lacey, WA, 98503
$23,000,000
Building Size
—
Asset Type
MultiFamily
Closing
May 19, 2020
AI
The property at 6205 Pacific Ave SE, Lacey, WA, 98503, in the Lacey market, is a MultiFamily asset. The loan for this property, facilitated by Berkadia, amounted to $23,000,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $23,000,000.00
- Address: 6205 Pacific Ave SE, Lacey, WA, 98503
- Borrower's Representatives: Marvin Jeremias (Crossmark Capital), Meyer Ovadia (Crossmark Capital)
- Lender: Berkadia
The borrower's representatives in this loan deal were Marvin Jeremias from Crossmark Capital and Meyer Ovadia from Crossmark Capital.
Players
Lacey 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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93