Wells Fargo Provides $31M Loan For Office Property Acquisition In San Jose
350 Holger Way
$31,000,000
$321/SF
Building Size
96,502 SF
Asset Type
Office
Closing
May 1, 2021
AI
An office property located at 350 Holger Way in San Jose has been involved in a closed transaction. The deal, which took place on January 5, 2021, was facilitated by Wells Fargo, who provided a loan of $31 million. The property, owned by Thor Equities, spans an area of 96,502 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $31 million
- Address: 350 Holger Way
- Market: San Jose
- Lender: Wells Fargo
- Landlord: Thor Equities
The property transaction was overseen by CBRE, with Robert E. Sulentic representing the agency. The ten-year deal showcases the successful collaboration between these key individuals and companies.
Players
San Jose 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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93