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
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