Mesa West Provides $53.7M Acquisition Loan For San Francisco Medical Office
FINANCED
$53,700,000
California
See Similar DealsOffice77,000 SF
Financed 11/04/2021
FINANCED
Mesa West Provides $53.7M Acquisition Loan For San Francisco Medical Office
350 Parnassus Avenue, San Francisco, CA, USA
See Similar DealsOffice77,000 SF
Financed 11/04/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$697
Total Square Footage:77,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$53,700,000.00
Monthly NOI$358,000.00
Monthly Debt Service$339,420.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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