Bank OZK And Square Mile Capital Management Provide $373M Construction Loan For Office Project In South San Francisco
FINANCED
California
See Similar DealsOffice3 SF
Financed 01/17/2023
FINANCED
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
See Similar DealsOffice3 SF
Financed 01/17/2023
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$124,333,333
Total Square Footage:3 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$373,000,000.00
Monthly NOI$2,486,666.67
Monthly Debt Service$2,357,613.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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