Brause Realty Secures $20M Loan For Office Property On Vanderbilt Ave In Grand Central
FINANCED
$20,000,000
California
See Similar DealsOffice162,342 SF
Financed 06/05/2020
FINANCED
Brause Realty Secures $20M Loan For Office Property On Vanderbilt Ave In Grand Central
52 Vanderbilt Ave, Grand Central
See Similar DealsOffice162,342 SF
Financed 06/05/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$123
Total Square Footage:162,342 SF
Transaction Type:Loan
The office property located at 52 Vanderbilt Ave in the Grand Central market has undergone a closed transaction. The property, owned by Brause Realty and represented by David Brause, has secured a loan from Minnesota Life Insurance Company. The loan amount is $20,000,000 and the property spans across 162,342 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $20,000,000
- Address: 52 Vanderbilt Ave
- Market: Grand Central
In this deal, Brause Realty, represented by David Brause, serves as the landlord. The loan has been provided by Minnesota Life Insurance Company. The successful completion of this transaction highlights the involvement of key individuals and companies in the real estate market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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