Updated Oct 28, 2024
Dollinger Properties Secures $97M Permanent Loan For Sunnyvale Office Building
675 Almanor Avenue, Sunnyvale, California 94085, United States
$97,000,000
$638/SF
Building Size
152,000 SF
Asset Type
Office
Closing
Aug 29, 2022
About this deal
AI
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
Sunnyvale 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93