Mesa West Capital Provides $178M Loan For Office Property At 901 & 951 Mariners Island Blvd In Bay Area
FINANCED
$178,000,000
California
See Similar DealsOffice236,000 SF
Financed 06/01/2020
FINANCED
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
See Similar DealsOffice236,000 SF
Financed 06/01/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$754
Total Square Footage:236,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$178,000,000.00
Monthly NOI$1,186,666.67
Monthly Debt Service$1,125,081.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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