Updated Oct 29, 2024
Bank OZK And Square Mile Capital Management Provide $373M Construction Loan For Office Project In South San Francisco
30 Tanforan Avenue, South San Francisco, California 94080, United States
$373,000,000
$124,333,333/SF
Building Size
3 SF
Asset Type
Office
Closing
Jan 17, 2023
About this deal
AI
The office property located at 30 Tanforan Ave in South San Francisco has recently closed a loan transaction. The property spans over 28.5 acres and offers a total of 3,000,000 square feet of space. The transaction took place on January 17, 2023.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $373,000,000
- Address: 30 Tanforan Ave
- Market: South San Francisco
- Image: Scott L. Smithers
- Loan Type: Construction Loan
The loan for this property was provided by Bank OZK and Square Mile Capital Management. Lane Partners, represented by Scott L. Smithers, acted as the landlord in this deal. Matt Haden from Eastdil Secured served as the broker.
Players
South San Francisco 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93