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Highland Realty Capital Secures $15.45M Loan For Alhambra Office Acquisition

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FINANCED
$15,445,000

California

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Office60,500 SF
Financed
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Property Image
FINANCED

Highland Realty Capital Secures $15.45M Loan For Alhambra Office Acquisition

320 South Garfield Avenue

See Similar Deals
Office60,500 SF
Financed
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$255
Total Square Footage:60500 SF
Transaction Type:Loan

The property located at 320 South Garfield Avenue in Alhambra is an office building with a total square footage of 60,500. The transaction involved a loan amount of $15,445,000 for the acquisition of the asset. Broadmoor Capital served as the landlord in this deal, while the brokers Jeffrey Eliason and Leland Ortega from Highland Realty Capital facilitated the transaction.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $15,445,000
  • Market: Alhambra
  • Address: 320 South Garfield Avenue
  • Loan Type: Acquisition
  • Loan Terms: Highland arranged $6.345M JV Equity and $9.1M Bridge Debt for Acquisition and Medical Office Condo Conversion of the Asset

Highland Realty Capital played a crucial role in securing the loan for the acquisition of the office building, showcasing their expertise in the financial aspects of real estate transactions. The collaboration between the brokers and the lender highlights the importance of skilled professionals in navigating complex deals like this one.

Players

Jeffrey Eliason
10 deals$404.3M volume
BROKER

Leland Ortega
Highland Realty Capital
10 deals$347.3M volume
BROKER

Details

FINANCED
IMAGE: Jeffrey Eliason & Leland Ortega DATE: 05/22/2024 ADDRESS: 320 South Garfield Avenue MARKET: Alhambra ASSET TYPE: Office ~ SF: 60,500 LANDLORD: Broadmoor Capital BROKERS: Jeffrey Eliason & Leland Ortega (@LelandOrt) - Highland Realty Capital LOAN AMOUNT: $15,445,000 LOAN TYPE: Acquisition LOAN TERMS: Highland arranged $6.345M JV Equity and $9.1M Bridge Debt for Acquisition and Medical Office Condo Conversion of the Asset.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$15,445,000.00

Monthly NOI$102,966.67
Monthly Debt Service$97,622.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00