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Acuity Eye Group Refinances Bakersfield Office Building For $10M

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FINANCED
$10,000,000

California

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Office98,033 SF
Financed
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FINANCED

Acuity Eye Group Refinances Bakersfield Office Building For $10M

2323 16th St Bakersfield, CA 93301, USA

See Similar Deals
Office98,033 SF
Financed
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$102
Total Square Footage:98033 SF
Transaction Type:Loan

The property involved in this transaction is an office building located at 2323 16th Street in Bakersfield. The asset has a total area of 98,033 square feet. The property is owned by Acuity Eye Group, a well-known landlord in the area.

Summary of Transaction Details

  • Property Type: Office
  • Transaction Amount: $10,000,000
  • Loan Type: Refinance
  • Loan Terms: 5.68% Fixed for 5 Years

The transaction was facilitated by Adam Emrani from Lucent Capital acting as the broker. This was a refinance loan amounting to $10,000,000. The loan has a fixed interest rate of 5.68% for a period of 5 years.

Note from Broker: This refinance loan was one of two properties that were refinanced, totaling $10 million.

Players

Adam Emrani
Adam Emrani
4 deals$89.1M volume(310) 876-8456
BROKER

Details

FINANCED
IMAGE: Adam Emrani DATE: 08/11/2023 ADDRESS: 2323 16th Street MARKET: Bakersfield ASSET TYPE: Office ~ SF: 98,033 LANDLORD: Acuity Eye Group (@AcuityEyeGroup) BROKER: Adam Emrani - Lucent Capital LOAN AMOUNT: $10,000,000 LOAN TYPE: Refinance LOAN TERMS: 5.68% Fixed for 5 Years NOTE FROM BROKER: One of two properties refinanced for a total of $10 Million!

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,000,000.00

Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00