Updated Sep 9, 2024
Gantry Secures $11.3M Loan To Refinance Multi-Tenant Office Tower In Berkeley
2855 Telegraph Ave Berkeley, CA 94705, USA
$11,300,000
$135/SF
Building Size
83,557 SF
Asset Type
Office
Closing
Jun 21, 2023
About this deal
AI
Located at 2855 Telegraph Avenue in Berkeley, a multi-tenant office tower has recently undergone a successful refinancing. The six-story building offers a total of 83,557 square feet of space and is home to over 35 tenants. The loan obtained for this property provides stability and financial flexibility, replacing a maturing CMBS loan. The refinancing deal has been facilitated by Tony Kaufmann and Alex Poulos of Gantry.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $11,300,000
- Market: Berkeley
- Loan Type: Refinance
- Loan Terms: 30-year, fixed-rate loan
Gantry, a leading brokerage firm, was able to secure an $11.3 million permanent loan for the property, ensuring stability and financial flexibility for the building's tenants. Tony Kaufmann and Alex Poulos, representing Gantry, played a crucial role in facilitating this refinancing deal for the multi-tenant office tower in Berkeley.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.40%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93