KKR Real Estate Finance Trust Provides $581M Construction Loan For Development Site In Redwood City, CA
Main Street, Redwood City, California 94063, United States
$581,000,000
$968/SF
Building Size
600,000 SF
Asset Type
Development Site
Closing
Oct 24, 2022
AI
A development site located at SEC Beech Street & Main Street in Redwood City, CA has been involved in a recent loan transaction. The property spans across 8 acres and has a buildable square footage of 600,000. The deal took place on October 25, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $581,000,000
- Loan Type: Construction Loan
- Loan Terms: five-year loan
KKR Real Estate Finance Trust, represented by Matt Salem, provided a construction loan of $581,000,000 for the development site. The loan terms are set for a five-year period. IQHQ, represented by Stephen Rosetta and Jonathan Praw, acts as the landlord for the property.
Players
Redwood City Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93