Highbridge Equity Partners Refinances Oakland Office Portfolio For $111M Loan
409 13th Street, Oakland, California 94612, United States
$111,000,000
$370/SF
Building Size
300,000 SF
Asset Type
Office
Closing
Jan 27, 2022
AI
Highbridge Equity Partners recently completed a refinance loan for an office property in Oakland. The property, located at 409 13th Street, 1500 Broadway, and 405 14th St., spans a total of 300,000 square feet. The loan amount for this transaction was $111,000,000, and it was a 5-year, floating rate loan.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $111,000,000
- Address: 409 13th Street, 1500 Broadway, 405 14th St.
- Market: Oakland
- Loan Type: Refinance Loan
- Loan Terms: 5-year, floating rate
The financing for this transaction was facilitated by Brad Zampa & Mike Walker from CBRE Capital Markets, who represented the borrower. The deal was successfully executed by Highbridge Equity Partners, the landlord involved in the transaction.
Players
Oakland 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93