Updated Dec 16, 2024
Bank Of America Provides $550M Loan For Office Building At 250 Howard Street
250 East Howard Street
$550,000,000
$727/SF
Building Size
756,000 SF
Asset Type
Office
Closing
Aug 8, 2019
About this deal
AI
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
Pasadena 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93