Greg Van Cleave Acquires Industrial Property In Sonoma For $20M Loan
1010 Napa Road, Sonoma, California 95476, United States
$20,000,000
$204/SF
Building Size
98,000 SF
Asset Type
Industrial
Closing
Dec 21, 2021
AI
Located at 1010 Napa Road in Sonoma, this industrial property spans 98,000 square feet. The transaction took place on 12/21/2021, with the assistance of broker Brandon Perdeck. The property is owned by Greg Van Cleave.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $20,000,000
- Loan Type: Bridge
- Loan Terms: Phase 1 Refinance + 100% LTC loan for Phase II construction
The loan for this property amounted to $20,000,000 and was obtained through a bridge loan. The loan terms include a phased approach, with Phase 1 involving refinancing, followed by a Phase II construction loan covering 100% loan-to-cost.
Players
Sonoma Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93