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Four Corners Properties Secures $75 Million Bridge Loan For Belmont Office Property At 1301 Shoreway Rd

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FINANCED
$75,000,000

California

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Office150,000 SF
Financed 05/19/2022
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FINANCED

Four Corners Properties Secures $75 Million Bridge Loan For Belmont Office Property At 1301 Shoreway Rd

1301 Shoreway Road, Belmont, California 94002, United States

See Similar Deals
Office150,000 SF
Financed 05/19/2022
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$500
Total Square Footage:150,000 SF
Transaction Type:Loan

1301 Shoreway Rd. in Belmont has been sold in a closed transaction. The office property, owned by Four Corners Properties, was the subject of the deal. The property is located in the Belmont market. The transaction involved a bridge loan of $75,000,000. The loan was secured on 05/19/2022. The brokers representing the deal were Mike Walker and Brad Zampa of CBRE.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: $75,000,000
  • Address: 1301 Shoreway Rd.
  • Market: Belmont
  • Landlord: Four Corners Properties
  • Brokers: Mike Walker & Brad Zampa - CBRE

This transaction was made possible by a bridge loan. The office property located at 1301 Shoreway Rd. in Belmont changed hands, with Four Corners Properties as the previous owner. The brokers who facilitated the deal were Mike Walker and Brad Zampa from CBRE.

Players

Bradford "Brad" Zampa
20 deals$2.1B volume
BROKER

Michael "Mike" Walker
CBRE
19 deals$2.1B volume
BROKER

LANDLORD

Details

FINANCED
IMAGE: William Lehenan, Mike Walker & Brad Zampa DATE: 05/19/2022 ADDRESS: 1301 Shoreway Rd. MARKET: Belmont ASSET TYPE: Office LANDLORD: Four Corners Properties BROKERS: Mike Walker & Brad Zampa - CBRE (@CBRE) LOAN AMOUNT: $75,000,000 LOAN TYPE: Bridge

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$75,000,000.00

Monthly NOI$500,000.00
Monthly Debt Service$474,051.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00