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350 Holger Way

Wells Fargo Provides $31M Loan For Office Property Acquisition In San Jose
FINANCEDOffice

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

Robert Sulentic

CBRE

Broker

$164.9M

vol

7 deals

Broker
Wells Fargo
Wells FargoLender
Thor Equities
Thor EquitiesLandlord

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