Updated Jun 5, 2025
Preylock Holdings Secures $180.5M Loan From JP Morgan Chase For Nvidia's Santa Clara HQ
2220 Central Expressway
$180,500,000
$328/SF
Building Size
550,000 SF
Asset Type
Office
Closing
Jan 26, 2024
About this deal
AI
The Santa Clara office property located at 2220 Central Expressway has recently undergone a loan transaction. The asset, spanning 550,000 square feet, was involved in a refinancing deal.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $180,500,000
- Address: 2220 Central Expressway
- Market: Santa Clara
Key individuals and entities in this transaction included JP Morgan Chase as the lender, and Brett Lipman and Steve Shokouhi of Preylock Holdings as the landlords. Preylock Holdings secured a loan of $180.5 million from JP Morgan Chase Bank. The purpose of the loan was to refinance the property, pay off a previous loan, finance tenant improvements, and take advantage of the appreciated value of the asset.
Players
Santa Clara 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93