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Seth Ludwick Of PSRS Secures $16.3 Million Loan For Medical Office In Santa Barbara

Property Image
FINANCED
$16,300,000

California

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Medical Office61,664 SF
Financed 07/08/2024
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Property Image
FINANCED

Seth Ludwick Of PSRS Secures $16.3 Million Loan For Medical Office In Santa Barbara

4151 Foothill Road

See Similar Deals
Medical Office61,664 SF
Financed 07/08/2024
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Medical Office
Price Per Square Foot:$264
Total Square Footage:61,664 SF
Transaction Type:Loan

The property involved in this transaction is a medical office asset located at 4151 Foothill Road in Santa Barbara. The asset has a total square footage of 61,664 and was refinanced for a substantial loan amount.

Summary of transaction details:

Seth Ludwick of PSRS successfully secured the refinancing for the Foothill Centre. The loan was provided to an undisclosed borrower, indicating the confidential nature of this financial transaction.

Players

Seth Ludwick
PSRS- Pacific Southwest Realty Services
Seth Ludwick
3 deals$16.3M volume(805) 572-6956
BROKER

Details

FINANCED
IMAGE: 07/08/2024 ADDRESS: 4151 Foothill Road MARKET: Santa Barbara ASSET TYPE: Medical Office ~ SF: 61,664 BROKER: Seth Ludwick - PSRS- Pacific Southwest Realty Services LOAN AMOUNT: $16,300,000 LOAN TERMS: non-recourse, 10-year loan with 30-year amortization and no reserves NOTE: Seth Ludwick of PSRS secured $16.3 million in refinancing for Foothill Centre, a 61,664-square-foot medical office campus in Santa Barbara. The non-recourse, 10-year loan with 30-year amortization was provided to an undisclosed borrower.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,300,000.00

Monthly NOI$108,666.67
Monthly Debt Service$103,027.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00