FINANCEDOffice
Newmark Brokers $932M Acquisition Loan For Office Portfolio In San Carlos, Plainfield, Renton, Phoenix, And Atlanta
2 Circle Star Way, San Carlos, California 94070, United States
$932,000,000
$116/SF
Building Size
8,000,000 SF
Asset Type
Office
Closing
Aug 25, 2022
AI
Summary of transaction details
- Property Type: Office
- Transaction Amount: $932,000,000
- Address: 2 Circle Star Way, 1501 North Division St., 500 Naches Ave. SW, 25500/25600 Norterra Pkwy., & 2500 Windy Ridge Pkwy.
- Market: San Carlos, CA, Plainfield, IL, Renton, WA, Phoenix, AZ, Atlanta, GA
- Lender: JP Morgan - Jamie Dimon; Bank of Montreal - Darryl White
- Landlord: GIC - Lim Chow Kiat; Workspace Property Trust - Tom Rizk
- Brokers: Jordan Roeschlaub & Dustin Stolly - Newmark
Players
Redwood City 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
0.02%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93