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CBRE Secures $9M Refinancing Deal For Fully Occupied Industrial Building In Alameda

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FINANCED
$9,000,000
Nick Santangelo
Jim Korinek
Doug Birrell
+ 3

California

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Industrial
Financed 11/13/2023
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Property Image
FINANCED

CBRE Secures $9M Refinancing Deal For Fully Occupied Industrial Building In Alameda

800 West Tower Avenue

See Similar Deals
Industrial
Financed 11/13/2023
Nick Santangelo
Jim Korinek
Doug Birrell
+ 3
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Industrial
Transaction Type:Loan

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.

Players

Bruce Francis
CBRE
Bruce Francis
18 deals$717.8M volume(602) 524-0826
BROKER
Jim Korinek
CBRE
Jim Korinek
11 deals$494.5M volume(650) 255-2345
BROKER
Doug Birrell
CBRE
Doug Birrell
18 deals$622.8M volume
BROKER
Robert (Bob) Ybarra
CBRE
Robert Ybarra
20 deals$897.8M volume
BROKER
Shaun Moothart
CBRE
Shaun Moothart
21 deals$793.5M volume
BROKER
Nick Santangelo
CBRE
Nick Santangelo
15 deals$523.7M volume
BROKER

Details

FINANCED
IMAGE: Nick Santangelo, Shaun Moothart, Doug Birrell, Bruce Francis, Bob Ybarra & Jim Korinek DATE: 11/13/2023 ADDRESS: 800 West Tower Avenue MARKET: Alameda ASSET TYPE: Industrial ~ ACRES: 6.8 BROKERS: Bruce Francis, Doug Birrell, Jim Korinek, Nick Santangelo, Bob Ybarra & Shaun Moothart - CBRE (@CBRE) LOAN 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 NOTE: CBRE has secured a $9 million refinancing deal for a fully occupied industrial building in Alameda, featuring 32-foot clear heights and 20 hanger-style doors. The 25-year loan, fully amortizing with a rate reset every five years, was arranged by CBRE Capital Markets, and details about the borrower and fund use remain undisclosed.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,000,000.00

Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00