Updated Dec 4, 2024
CBRE Secures $9M Refinancing Deal For Fully Occupied Industrial Building In Alameda
800 West Tower Avenue
$9,000,000
Building Size
—
Asset Type
Industrial
Closing
Nov 13, 2023
About this deal
AI
The industrial building located at 800 West Tower Avenue in Alameda has secured a $9 million refinancing deal. The property features 32-foot clear heights and 20 hanger-style doors. It is fully occupied and sits on 6.8 acres of land.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $9,000,000
- Loan Type: Refinance
- Loan Terms: 25-year loan, which is fully amortizing with a rate reset at the end of every five years of the loan
CBRE Capital Markets arranged the 25-year fully amortizing loan with a rate reset every five years. The loan was secured by brokers Bruce Francis, Doug Birrell, Jim Korinek, Nick Santangelo, Bob Ybarra, and Shaun Moothart from CBRE. The borrower's identity and the specific use of the funds remain undisclosed at this time.
On the Map
$9,000,000
Industrial
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Players
Alameda Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93