Updated Oct 28, 2024
Mesa West Capital Provides $178M Loan For Office Property At 901 & 951 Mariners Island Blvd In Bay Area
901 Mariners Island Boulevard, San Mateo, CA, USA
$178,000,000
$754/SF
Building Size
236,000 SF
Asset Type
Office
Closing
Jun 1, 2020
About this deal
AI
A $178,000,000 loan was secured for the acquisition of the office property located at 901 & 951 Mariners Island Boulevard in the Bay Area. The loan was provided by Mesa West Capital, with Josh Westerberg and Ronnie Gul representing the lending company. The loan terms consist of a 5-year, floating-rate, first mortgage loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $178,000,000
- Address: 901 & 951 Mariners Island Boulevard
- Market: Bay Area
- Lender: Mesa West Capital - Josh Westerberg & Ronnie Gul
Longfellow Real Estate Partners, represented by Adam Sichol, acted as the landlord in this transaction. The brokers involved in the deal were Ramsey Daya from Newmark and Mark Osher from Gibson, Dunn & Crutcher.
On the Map
$178,000,000
$754/SF
Office
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Players
San Mateo 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93