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Cushman & Wakefield Secures $34M Acquisition Loan For Northsight Corporate Center

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FINANCED
$34,000,000

Arizona

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Office136,682 SF
Financed 05/08/2024
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Property Image
FINANCED

Cushman & Wakefield Secures $34M Acquisition Loan For Northsight Corporate Center

14400 North 87th Street

See Similar Deals
Office136,682 SF
Financed 05/08/2024
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Summary

ARIZONA
Asset Type:Office
Price Per Square Foot:$248
Total Square Footage:136,682 SF
Transaction Type:Loan

The Northsight Corporate Center in Scottsdale, AZ, with an address at 14400 North 87th Street, spans 136,682 square feet. The office property was involved in an acquisition loan amounting to $34,000,000. The building, fully occupied by an investment management company, offers flexible floor plates, ample parking, electric vehicle charging stations, and an onsite restaurant.

Summary of transation details:

Cushman & Wakefield, represented by Kristian Brown, played a significant role in arranging the $34 million financing for the Northsight Corporate Center. The property's amenities cater to the needs of the investment management company occupying the building, with features like electric vehicle charging stations and an onsite restaurant contributing to a comfortable working environment.

Players

Kristian Brown
2 deals$62.7M volume
BROKER

Details

FINANCED
IMAGE: 05/08/2024 ADDRESS: 14400 North 87th Street MARKET: Scottsdale, AZ ASSET TYPE: Office ~ SF: 136,682 LANDLORD: Vertical Ventures BROKER: Kristian Brown - Cushman & Wakefield LOAN AMOUNT: $34,000,000 LOAN TYPE: Acquisition NOTE: Cushman & Wakefield arranged $34 million in financing for Northsight Corporate Center in Scottsdale. The property, fully occupied by an investment management company, features flexible floor plates, ample parking, electric vehicle charging stations, and an onsite restaurant.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$34,000,000.00

Monthly NOI$226,666.67
Monthly Debt Service$214,903.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00