Seven Hills Realty Trust Provides $24.8M Refinance Loan For Carlsbad Office Property
5910 Priestly Drive, Carlsbad, CA, USA
$24,800,000
$253/SF
Building Size
98,000 SF
Asset Type
Office
Closing
Nov 2, 2021
AI
Located at 5910 Priestly Drive in Carlsbad, this office property spans approximately 98,000 square feet. The property was recently involved in a loan transaction.
Summary of transation details
- Property Type: Office
- Transaction Amount: $24,800,000
The lender in this transaction was Seven Hills Realty Trust, represented by Tom Lorenzini. The loan amount for this deal was $24,800,000, and it was classified as a refinance. The loan terms included a 3-year initial term, with two 1-year extension options.
Carlsbad 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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93