HIG Realty Partners Provides $51.3M Loan For Irvine Office Property
114 Pacifica Court, Westlake Village, CA, USA
$51,310,000
$464/SF
Building Size
110,392 SF
Asset Type
Office
Closing
Jul 9, 2020
AI
The office property located at 114 Pacifica Court in Irvine was recently involved in a loan transaction on July 9, 2021. The property, spanning across 110,392 square feet, is owned by Meridian & Harrison Street and is situated in the Irvine market.
Summary of transation details
- Property Type: Office
- Transaction Amount: $51,310,000
- Date: 07/09/2021
- Address: 114 Pacifica Court
- Market: Irvine
- Lender: HIG Realty Partners
- Landlord: Meridian & Harrison Street
- Brokers: John Chun - JLL Capital Markets
- Loan Amount: $51,310,000
- SF: 110,392
In this transaction, the loan was provided by HIG Realty Partners. Representing the property owner, Meridian & Harrison Street, the brokers involved in the deal were John Chun from JLL Capital Markets.
Players
Westlake Village Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93