Mesa West Provides $53.7M Acquisition Loan For San Francisco Medical Office
350 Parnassus Avenue, San Francisco, CA, USA
$53,700,000
$697/SF
Building Size
77,000 SF
Asset Type
Office
Closing
Nov 4, 2021
AI
A medical office building located at 350 Parnassus Avenue in San Francisco has been acquired in a closed transaction. The property spans an area of approximately 77,000 square feet.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $53,700,000
- Address: 350 Parnassus Avenue, San Francisco
- Market: San Francisco
The loan for the acquisition of this medical office building was provided by Mesa West. The loan amount is $53,700,000 and the loan type is an acquisition loan with 5-year, floating-rate terms. Joshua Westerberg from Mesa West served as the lender's representative in the deal.
The property's landlord is Rubicon Point Partners. Ramsey Daya from Newmark acted as the broker for this transaction.
Players
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
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93