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Ally Commercial RE Refinances Office Property In Tustin For $11.2M

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FINANCED
$11,200,000

California

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Office51,500 SF
Financed 08/16/2023
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FINANCED

Ally Commercial RE Refinances Office Property In Tustin For $11.2M

2472 Downey Ave, Tustin, CA, 92780

See Similar Deals
Office51,500 SF
Financed 08/16/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$217
Total Square Footage:51,500 SF
Transaction Type:Loan

The property involved in the transaction is an office space located at 2472 Downey Ave in Tustin. This office space spans a total area of 51,500 square feet. The transaction took place on the specified date of 08/16/2023.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $11,200,000
  • Loan Type: Refinance
  • Loan Terms: 70% loan-to-value ratio, 5-year term, 36-months interest only, fixed rate of 6.50%, no prepayment penalty

The transaction was facilitated by Ally Commercial RE, represented by their broker Trevor Damyan. The landlord for this property is Downey Ave.

Players

Trevor Damyan
CLS | CRE
Trevor Damyan
13 deals$207M volume
BROKER

Details

FINANCED
IMAGE: Trevor Damyan DATE: 08/16/2023 ADDRESS: 2472 Downey Ave MARKET: Tustin ASSET TYPE: Office ~ SF: 51,500 LANDLORD: Downey Ave BROKER: Ally Commercial RE (@AllyCommercialRE) - Trevor Damyan LOAN AMOUNT: $11,200,000 LOAN TYPE: Refinance LOAN TERMS: 70% LTV, 5 year term, 36-months interest only, fixed rate of 6.50%, no prepayment penalty

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,200,000.00

Monthly NOI$74,666.67
Monthly Debt Service$70,791.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00