Updated Oct 28, 2024
Sonnenblick-Eichner Company Provides $30 Million Loan For Office Building In Manhattan Beach
1888 Rosecrans Place, Manhattan Beach, CA 90266, USA
$30,000,000
$382/SF
Building Size
78,540 SF
Asset Type
Office
Closing
Jun 9, 2020
About this deal
AI
The office property located at 1888 Rosecrans Ave in Manhattan Beach has been involved in a recent loan transaction. The loan was secured from Sonnenblick-Eichner Company, with David N. Sonnenblick, Elliot K. Eichner, and Patrick Brown representing the lending company. The loan amount totaled $30,000,000, and the term of the loan is 10 years. The property spans a total of 78,540 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,000,000
- Address: 1888 Rosecrans Ave
- Market: Manhattan Beach
The landlord of the property is Continental Development Corporation, represented by Richard Lundquist. This loan transaction highlights the collaboration between the lender, Sonnenblick-Eichner Company, and the landlord, Continental Development Corporation, in securing the financial resources for the property at 1888 Rosecrans Ave.
On the Map
$30,000,000
$382/SF
Office
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Players
Manhattan Beach 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93