Dollinger Properties Secures $97M Permanent Loan For Sunnyvale Office Building
FINANCED
$97,000,000
California
See Similar DealsOffice152,000 SF
Financed 08/30/2022
FINANCED
Dollinger Properties Secures $97M Permanent Loan For Sunnyvale Office Building
675 Almanor Avenue, Sunnyvale, California 94085, United States
See Similar DealsOffice152,000 SF
Financed 08/30/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$638
Total Square Footage:152,000 SF
Transaction Type:Loan
The property involved in this transaction is an office located at 675 Almanor Road in Sunnyvale. The office has a total square footage of 152,000. The transaction took place on August 30, 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $97,000,000
- Address: 675 Almanor Road
- Market: Sunnyvale
- Lender: AXA Equitable Life Insurance Co.
- Landlord: Dollinger Properties
- Broker: Tony Kaufmann - Gantry
- Loan Type: Permanent Loan
- Loan Terms: non-recourse, permanent interest-only balance sheet loan was structured with flexible payment and term extension options
Tony Kaufmann from Gantry played a significant role as the broker representing the buyer or seller in this transaction. This deal resulted in a non-recourse permanent loan of $97,000,000 from AXA Equitable Life Insurance Co. The loan terms include flexible payment and term extension options.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$97,000,000.00
Monthly NOI$646,666.67
Monthly Debt Service$613,105.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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