Updated Dec 21, 2023
Black Bear Capital Partners Arranges $7.99M Loan For Laguna Hills Office Building Acquisition
23161 Mill Creek Drive, Laguna Hills, California 92653, United States
$7,990,000
$163/SF
Building Size
49,000 SF
Asset Type
Office
Closing
May 18, 2022
About this deal
AI
The acquisition of a 49,000 square foot office building located at 23161 Mill Creek Drive in Laguna Hills, CA has been financed through a $7,990,000 loan. The loan was obtained for the purpose of acquiring the property.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,990,000
- Market: Laguna Hills, CA
- Broker: Brandon Harris - Black Bear Capital Partners
The loan secured for this transaction is a 3-year floating rate loan at 70% Loan-to-Value (LTV) or Loan-to-Cost (LTC) ratio. The financing features 100% future funding for Tenant Improvements (TI) and Leasing Commissions (LC), 24 months of interest-only payments, and a flexible prepayment structure. These favorable loan terms were provided by a balance sheet lender.
Laguna Hills 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
1.99%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93