Silver Creek Secures $31.4 Million Bridge Loan From Obra Real Estate For Office Property In Gilbert AZ
1715 West Elliot Road
$31,400,000
$261/SF
Building Size
120,294 SF
Asset Type
Office
Closing
Jul 1, 2026
About this deal
AI
The asset is a single-tenant office property located at 1715 West Elliot Road in Gilbert, Arizona. The property comprises 120,294 square feet and is fully leased to Northrop Grumman. Silver Creek Development secured a refinancing loan amounting to $31.4 million from Obra Real Estate for this office building, which was acquired in 2021 for $43.1 million.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,400,000
- Lender: Michael Bachenheimer - Obra Real Estate
- Landlord: Franck Ruimy - Silver Creek
- Brokers: Morris Betesh, Eliott Zeitoune, Alex Bailkin, Andrew Rosenberg - Arrow Real Estate Advisors
- Loan Type: Refinance
The financing was arranged by Arrow Real Estate Advisors and closed in under 30 days. Silver Creek Development was involved in this transaction as the landlord and secured the bridge loan to facilitate the refinancing process.
Players
Elliot Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit Eliott Zeitoune to view all their deals.
Browse Arizona office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93