Ally Commercial RE Refinances Office Property In Tustin For $11.2M
2472 Downey Ave, Tustin, CA, 92780
$11,200,000
$217/SF
Building Size
51,500 SF
Asset Type
Office
Closing
Aug 16, 2023
AI
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
Tustin 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
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93