Charles Essig Of Silver Creek Development Secures $22.67M Refinance Loan For Chandler Office
1811 East Northrop Boulevard
$22,670,000
$156/SF
Building Size
145,000 SF
Asset Type
Office
Closing
Aug 13, 2025
AI
The property involved in this transaction is an office asset located at 1811 East Northrop Boulevard in Chandler. It encompasses a total square footage of 145,000. The transaction was a refinance with a loan amount of $22,670,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $22,670,000
- Asset Address: 1811 East Northrop Boulevard
- Market: Chandler
- Landlord: Charles Essig - Silver Creek Development
- Broker: Steven Paskover - Walker & Dunlop
- Loan Type: Refinance
Key individuals in this transaction include Charles Essig representing the landlord, Silver Creek Development, and Steven Paskover as the broker from Walker & Dunlop involved in facilitating the refinance deal.
Players
Chandler Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93