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David Blum Of NorthMarq Secures $23.95 Million Refinance For Topanga & Victory Office Building

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FINANCED
$23,950,000

California

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Office165,336 SF
Financed 09/25/2024
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Property Image
FINANCED

David Blum Of NorthMarq Secures $23.95 Million Refinance For Topanga & Victory Office Building

6325 Topanga Canyon Boulevard

See Similar Deals
Office165,336 SF
Financed 09/25/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$144
Total Square Footage:165,336 SF
Transaction Type:Loan

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

David Blum
NorthMarq
David Blum
2 deals$63.5M volume(949) 717-5215
BROKER

Details

FINANCED
IMAGE: David Blum DATE: 09/25/2024 ADDRESS: 6325 & 6355 Topanga Canyon Boulevard MARKET: Woodland Hills ASSET TYPE: Office ~ SF: 165,336 BROKER: David Blum - NorthMarq (@NorthMarq) LOAN AMOUNT: $23,950,000 LOAN TYPE: Refinance LOAN TERMS: 5-year interest-only NOTE: Northmarq’s Newport Beach team, led by David Blum, secured $23.95 million in refinancing for the 165,336-square-foot Topanga & Victory office building in Woodland Hills, CA. The five-year interest-only loan was arranged through a national CMBS platform with a sub-60% loan-to-value ratio, despite challenges in the office sector.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$23,950,000.00

Monthly NOI$159,666.67
Monthly Debt Service$151,380.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00