Invesco Real Estate Provides $575M Construction Loan For Gemdale USA's Office Development In San Diego, CA
FINANCED
$575,000,000
California
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Financed 10/10/2022
FINANCED
Invesco Real Estate Provides $575M Construction Loan For Gemdale USA's Office Development In San Diego, CA
6040 Edgewood Bend Court, San Diego, California 92130, United States
See Similar DealsOffice
Financed 10/10/2022
Summary
CALIFORNIA
Asset Type:Office
Transaction Type:Loan
Located at 6040 Edgewood Bend Court in San Diego, CA, this office property spans across 15.7 acres. The transaction took place on October 10, 2022. The asset type is an office building.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $575,000,000
- Lender: Invesco Real Estate - Charlie Rose & Justin Chausse; Bank OZK
- Landlord: Gemdale USA
- Broker: Eastdil Secured
The loan, amounting to $575,000,000, was provided by Invesco Real Estate, with representation by Charlie Rose and Justin Chausse, along with Bank OZK. The loan type is a construction loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$575,000,000.00
Monthly NOI$3,833,333.33
Monthly Debt Service$3,634,391.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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