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430 North Mary Avenue

Natixis Real Estate Capital Provides $245M Loan For Sunnyvale Office Building With Apple As Tenant
FINANCEDOffice

Natixis Real Estate Capital Provides $245M Loan For Sunnyvale Office Building With Apple As Tenant

430 North Mary Avenue

$245,000,000

$700/SF

Building Size

350,000 SF

Asset Type

Office

Closing

Jul 30, 2021

AI

An office property located at 410-430 North Mary Avenue in Sunnyvale has been involved in a closed transaction. The deal took place on July 30, 2021, and the asset is owned by Tristar Capital, represented by David Edelstein. The property is situated in a market in Sunnyvale and is categorized as an office space.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $245,000,000
  • Address: 410-430 North Mary Avenue
  • Market: Sunnyvale

The loan for this transaction was provided by Natixis Real Estate Capital, with Michael Magner as the representative. Cooper Horowitz LLC, represented by Richard Horowitz and Justin Horowitz, acted as brokers in the deal. The tenant for this office property is Apple, as mentioned in the Instagram post.

Players

Justin Horowitz

Brookfield Properties

Broker

$2.1B

vol

32 deals

Broker

David Edelstein

Tristar Capital

Landlord

$460.7M

vol

6 deals

Landlord
A
AppleTenant

Sunnyvale 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

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93