Updated Dec 4, 2024
David Blum Of NorthMarq Secures $23.95 Million Refinance For Topanga & Victory Office Building
6325 Topanga Canyon Boulevard
$23,950,000
$144/SF
Building Size
165,336 SF
Asset Type
Office
Closing
Sep 25, 2024
About this deal
AI
The property asset involved in this transaction is located at 6325 & 6355 Topanga Canyon Boulevard in Woodland Hills. This office asset spans 165,336 square feet and is associated with a refinancing loan amount of $23,950,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $23,950,000
- Loan Type: Refinance
- Loan Terms: 5-year interest-only
- Loan-to-Value Ratio: sub-60%
- Broker: David Blum - NorthMarq
David Blum, representing NorthMarq's Newport Beach team, played a crucial role in securing the refinancing for the property. The loan was arranged through a national CMBS platform, addressing the market challenges present in the office sector.
Players
Woodland Hills 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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93