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Gelt And Uhon Acquire Reseda Multifamily For $83M With Square Mile Loan

6625 Reseda Boulevard
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This MultiFamily property located in CA received a loan of $83,000,000 over 3 years ago. The brokers of the deal were Malcolm Davies, Zachary (Zack) Streit, and Keith Wasserman

The multifamily property located at 6625 Reseda Blvd in Reseda, San Fernando Valley was involved in a closed transaction on December 23, 2020. The property, currently owned by Gelt and Uhon, caught the attention of buyers and lenders in the market.

Summary of Transaction Details

  • Property Type: Multifamily
  • Address: 6625 Reseda Blvd
  • Market: Reseda, San Fernando Valley

The loan for this transaction was provided by Square Mile, a reputable lender in the industry. The loan amount was $83,000,000, and it had a term of 3 years with an interest-only payment structure. The loan terms also included 80% loan-to-cost ratio (LTC) and an interest rate set at L+450. It's worth mentioning that the loan was non-recourse, providing additional security for the borrower.

Malcolm Davies from Malcolm Davies Realty and Zack Streit from Zack Streit Realty played an essential role as brokers in this deal. They worked alongside Keith Wasserman from KfWasserman Realty to represent the parties involved in the transaction.

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Deals
  • Location
    6625 Reseda Boulevard, Reseda, CA, USA6625 Reseda Boulevard, Reseda, CA, USA
  • Loan Value
    $83,000,000$83,000,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Zachary (Zack) Streit

Zachary (Zack) Streit

Deals12
Financed$619.8M

Keith Wasserman

Keith Wasserman

Deals1
Financed$83M

Malcolm Davies

Malcolm Davies

Deals13
Financed$749.8M

Agency

WAY Capital

WAY Capital

Agency
Deals23
Volume$1.2B

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Deal Summary

LOAN IMAGE: Keith Wasserman, Rushan Wu, Malcolm Davies & Zack Streit DATE: 12/23/2020 ADDRESS: 6625 Reseda Blvd MARKET: Reseda, San Fernando Valley ASSET TYPE: Multifamily LENDER: Square Mile LANDLORD: Gelt, Uhon BROKERS: Malcolm Davies @MalcolmDavies82 & Zack Streit @ZackdStreit & Keith Wasserman @KfWasserman LOAN AMOUNT: $83,000,000 TERM: 80% LTC, L+450, 3 Year Term, Interest Only, Non Recourse

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6625 Reseda Boulevard

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