Updated Dec 11, 2024
DivcoWest Refinances Glendale Office Building For $145M Loan
655 N Central Ave, Glendale, California 91203, United States
$145,000,000
$244/SF
Building Size
591,958 SF
Asset Type
Office
Closing
Feb 16, 2022
About this deal
AI
DivcoWest has recently closed a transaction involving an office property located at 655 N. Central Ave. in Glendale. The property spans approximately 591,958 square feet and is categorized as an office asset. The deal was finalized on the date of February 17, 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $145,000,000
- Address: 655 N. Central Ave.
- Market: Glendale
- Landlord: DivcoWest
- Brokers: Brad Zampa, Michael Walker & Greg Grant - CBRE
- Loan Type: Refinance Loan
- Loan Terms: 5-year, floating-rate
The loan amount for this transaction was $145,000,000, and it was categorized as a refinance loan. The terms of the loan include a duration of 5 years and a floating interest rate.
Players
Glendale 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93