GREEN PARK FINANCIAL CLOSES $12.4 MILLION MULTIFAMILY LOAN

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SAN JOSE, CALIF. — Green Park Financial has provided a $12.4 million loan for the refinancing of Vendome Place, a 75-unit multifamily property located in San Jose. The 97-percent leased property features large floor plans, maple cabinets, washer/dyers, air conditioning, patios and balconies, a fitness center, and common-area washers and dryers for studio units. The loan features a 10-year term and 30-year amortization; a 59 percent loan-to-value with a 1.15x debt-service coverage ratio and 4.75 percent cap rate. Cohen Financial originated the loan. Will Baker led the Green Park Financial team in the transaction.

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