Updated Oct 28, 2024
Four Corners Properties Secures $75 Million Bridge Loan For Belmont Office Property At 1301 Shoreway Rd
1301 Shoreway Road, Belmont, California 94002, United States
$75,000,000
$500/SF
Building Size
150,000 SF
Asset Type
Office
Closing
May 18, 2022
About this deal
AI
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
Belmont 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93