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Goldman Sachs Provides $16.7M Refinance Loan For 100 Howe Avenue Office Complex In Sacramento

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FINANCED
$16,700,000
Olga Walsh
Bharat Madan

California

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Office130,000 SF
Financed 12/16/2024
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Property Image
FINANCED

Goldman Sachs Provides $16.7M Refinance Loan For 100 Howe Avenue Office Complex In Sacramento

100 Howe Avenue

See Similar Deals
Office130,000 SF
Financed 12/16/2024
Olga Walsh
Bharat Madan
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$128
Total Square Footage:130,000 SF
Transaction Type:Loan

100 Howe Avenue is a 130,000-square-foot office property located in Sacramento. The asset is currently 95% occupied and underwent a refinancing transaction amounting to $16,700,000. Goldman Sachs served as the lender for this five-year, interest-only loan.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $16,700,000
  • Lender: Goldman Sachs
  • Landlords: Larry Jackel & Patrick Tribolet - Fenway Capital Advisors
  • Brokers: Bharat Madan & Olga Walsh - JLL
  • Loan Terms: five-year, interest-only
  • Loan Purpose: Refinance

JLL Capital Markets acted on behalf of Fenway Capital Advisors to secure the refinancing arrangement, demonstrating the collaborative effort of the involved parties to optimize the financial structure of the property in the current market environment.

Players

Bharat Madan
JLL
Bharat Madan
9 deals$1.9B volume
BROKER
Olga Walsh
JLL
Olga Walsh
7 deals$192.5M volume
BROKER
Goldman Sachs
Goldman Sachs
LENDER

Details

FINANCED
IMAGE: Larry Jackel, Patrick Tribolet, Bharat Madan & Olga Walsh DATE: 12/16/2024 ADDRESS: 100 Howe Avenue MARKET: Sacramento ASSET TYPE: Office ~ SF: 130,000 LENDER: Goldman Sachs (@GoldmanSachs) LANDLORD: Larry Jackel & Patrick Tribolet - Fenway Capital Advisors BROKERS: Bharat Madan & Olga Walsh - JLL (@JLL) LOAN AMOUNT: $16,700,000 LOAN TYPE: Refinance LOAN TERMS: five-year, interest-only NOTE: JLL Capital Markets secured a $16.7M refinancing for 100 Howe, a 130,000-square-foot office complex in Sacramento, on behalf of Fenway Capital Advisors, with Goldman Sachs as the lender. The five-year, interest-only loan will support the property’s 95% occupancy and provide the borrower with flexibility for a future exit.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,700,000.00

Monthly NOI$111,333.33
Monthly Debt Service$105,555.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00