Gantry Arranges $20M Loan For Office And Retail Properties In Santa Barbara And Pasadena
1302 State Street, Santa Barbara, California 93101, United States
$20,000,000
Building Size
—
Asset Type
Office
Closing
Jan 13, 2023
AI
The closed property transaction involved an office and retail asset located at 1302 State St & 132 W Colorado Blvd in Santa Barbara and Pasadena. The deal was facilitated by brokers Mark Ritchie, Amit Tyagi, and Alicia Sabanero from Gantry. The loan amount for the transaction was $20,000,000.
Summary of transaction details
- Property Type: Office & Retail
- Transaction Amount: $20,000,000
- Address: 1302 State St & 132 W Colorado Blvd
- Market: Santa Barbara & Pasadena
The loan terms for the transaction included a five-year interest-only payment period, followed by a 25-year amortization for the remainder of the term.
Players
Santa Barbara 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93