Square Mile Capital Management Provides $202.6M Construction Loan For San Diego Office Property
FINANCED
$202,600,000
California
See Similar DealsOffice316 SF
Financed 12/15/2022
FINANCED
Square Mile Capital Management Provides $202.6M Construction Loan For San Diego Office Property
5889 Oberlin Drive, San Diego, California 92121, United States
See Similar DealsOffice316 SF
Financed 12/15/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$641,139
Total Square Footage:316 SF
Transaction Type:Loan
Located at 5889 Oberlin Dr in San Diego, this office property spans 316,000 square feet. The transaction took place on December 15, 2022, and the loan amount was $202,600,000. The loan type for this transaction was a construction loan. The lender involved in the deal was Square Mile Capital Management, represented by Tom Burns, along with Bank OZK. The landlord of the property is Longfellow Real Estate Partners. The brokers Aldon Cole and Patrick Burger from JLL Capital Markets facilitated the transaction.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $202,600,000
- Market: San Diego
Completing the deal, Square Mile Capital Management, represented by Tom Burns, along with Bank OZK, provided a construction loan of $202,600,000 for the office property located at 5889 Oberlin Dr in San Diego. The landlord of the property is Longfellow Real Estate Partners. The brokers Aldon Cole and Patrick Burger from JLL Capital Markets played a crucial role in facilitating the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$202,600,000.00
Monthly NOI$1,350,666.67
Monthly Debt Service$1,280,569.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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