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Bank Of America Provides $550M Loan For Office Building At 250 Howard Street

Property Image
FINANCED
$550,000,000

California

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Office756,000 SF
Financed 08/08/2019
the dealplayerscompscontact
Property Image
FINANCED

Bank Of America Provides $550M Loan For Office Building At 250 Howard Street

250 East Howard Street

See Similar Deals
Office756,000 SF
Financed 08/08/2019
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$727
Total Square Footage:756,000 SF
Transaction Type:Loan

Located at 250 Howard Street, the property involved in this closed transaction is an office asset. The deal took place on 08/09/2019. The property spans across 756,000 square feet.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $550,000,000
  • Loan Terms: 10-year full-term interest-only, 3.45%
  • Lender: Bank of America
  • Landlord: metlife-investment-management'>MetLife Investment Management
  • Brokers: Kroll Bond Rating Agency

Bank of America provided a loan of $550,000,000 for this closed transaction. The loan terms include a 10-year full-term interest-only period with an interest rate of 3.45%. metlife-investment-management'>MetLife Investment Management acts as the landlord for this property. Kroll Bond Rating Agency served as the broker for this deal.

Players

MetLife
MetLife
LENDER
Bank of America
Bank of America
LENDER
MetLife
MetLife
LANDLORD

Details

FINANCED
IMAGE: Steven J. Goulart & Jude Driscoll DATE: 08/09/2019 ADDRESS: 250 Howard Street ASSET TYPE: Office LENDER: Bank of America LANDLORD: MetLife Investment Management BROKERS: Kroll Bond Rating Agency LOAN AMOUNT: $550,000,000 LOAN TERMS: 10-year full-term interest-only, 3.45% SF: 756,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$550,000,000.00

Monthly NOI$3,666,666.67
Monthly Debt Service$3,476,374.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00