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Blackstone Secures $195M Loan From Wells Fargo For Burbank Office Building

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FINANCED
$195,000,000

California

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Office480,000 SF
Financed 09/12/2019
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Property Image
FINANCED

Blackstone Secures $195M Loan From Wells Fargo For Burbank Office Building

3900 W Alameda Ave, Burbank, CA, USA

See Similar Deals
Office480,000 SF
Financed 09/12/2019
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$406
Total Square Footage:480,000 SF
Transaction Type:Loan

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

Wells Fargo
Wells Fargo
LENDER
Blackstone
Blackstone
LANDLORD

Details

FINANCED
IMAGE: C. Allen Parker, Jon Gray, Kenneth Caplan, Kathleen McCarthy & Chris Graham DATE: 09/12/2019 ADDRESS: 3900 W Alameda Ave MARKET: Burbank ASSET TYPE: Office LENDER: Wells Fargo LANDLORD: Blackstone LOAN AMOUNT: $195,000,000 LOAN TERMS: fixed, 3.1%, 10-year SF: 480,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$195,000,000.00

Monthly NOI$1,300,000.00
Monthly Debt Service$1,232,532.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00