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JLL Capital Markets Arranges $15.645M Loan For Berkeley Industrial Property

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FINANCED
$15,645,000
Erik Hanson
Ethan Habecker

California

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Industrial
Financed 05/14/2024
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Property Image
FINANCED

JLL Capital Markets Arranges $15.645M Loan For Berkeley Industrial Property

2630 Eighth Street

See Similar Deals
Industrial
Financed 05/14/2024
Erik Hanson
Ethan Habecker
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Transaction Type:Loan

The property located at 2630 Eighth Street in Berkeley is set for redevelopment into high-end R&D/Advanced Manufacturing space. The loan amount of $15,645,000 was arranged for this industrial asset by JLL Capital Markets. This property, situated in West Berkeley's industrial district, benefits from its central location and proximity to major transportation networks and the Port of Oakland.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $15,645,000
  • Address: 2630 Eighth Street
  • Market: Berkeley
  • Lender: Berkeley Partners
  • Landlord: Cobalt Investment Partners
  • Brokers: Erik Hanson & Ethan Habecker - JLL

JLL Capital Markets played a key role in arranging the financing for the property's redevelopment. Erik Hanson & Ethan Habecker from JLL were the brokers representing the parties involved in this transaction.

Players

Erik Hanson
JLL
Erik Hanson
8 deals$425.1M volume
BROKER
Ethan Habecker
JLL
Ethan Habecker
7 deals$358.3M volume(415) 395-4900
BROKER
Berkeley Partners
Berkeley Partners
LENDER

Details

FINANCED
IMAGE: 05/14/2024 ADDRESS: 2630 Eighth Street MARKET: Berkeley ASSET TYPE: Industrial LENDER: Berkeley Partners LANDLORD: Cobalt Investment Partners BROKERS: Erik Hanson & Ethan Habecker - JLL LOAN AMOUNT: $15,645,000 NOTE: JLL Capital Markets arranged $15.645 million in financing for the redevelopment of 2630 8th St. in Berkeley into high-end R&D/Advanced Manufacturing space. The property, centrally located in West Berkeley's industrial district, benefits from proximity to major transportation networks and the Port of Oakland, positioning it well in a region known for high-tech manufacturing.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$15,645,000.00

Monthly NOI$104,300.00
Monthly Debt Service$98,887.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00