Updated Nov 27, 2024
Blackstone Secures $195M Loan From Wells Fargo For Burbank Office Building
3900 W Alameda Ave, Burbank, CA, USA
$195,000,000
$406/SF
Building Size
480,000 SF
Asset Type
Office
Closing
Sep 11, 2019
About this deal
AI
The office property located at 3900 W Alameda Ave in Burbank has been involved in a recent transaction. The property spans approximately 480,000 square feet and is owned by Blackstone.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $195,000,000
- Lender: Wells Fargo
- Landlord: Blackstone
- Loan Terms: fixed, 3.1%, 10-year
The loan for this transaction was provided by Wells Fargo. The loan amount was $195,000,000, with fixed terms at 3.1% over a 10-year period. Blackstone, as the landlord, facilitated the transaction.
Players
Burbank 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93