Marcus & Millichap Refinances Office Property In Pasadena For $15M
960 East Green Street
$15,000,000
$203/SF
Building Size
73,864 SF
Asset Type
Office
Closing
Dec 21, 2022
AI
An office property located at 960 East Green Street in Pasadena was recently involved in a closed transaction. The property spans across 73,864 square feet, making it a sizable asset in the market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 960 East Green Street, Pasadena
- Market: Pasadena
- BROKERS: Stefen Chraghchian & Sharone Sabar - Marcus & Millichap
The loan associated with this transaction amounted to $15,000,000. It was classified as a refinance loan with a fixed rate of 6.00%. The loan terms included a 3-year fixed period and had no prepayment penalties. Furthermore, the loan was non-recourse, providing additional financial security to the parties involved.
If you would like more information about this transaction, feel free to reach out to Stefen Chraghchian from Marcus & Millichap at [email protected] or by calling 818-319-5749.
Players
Pasadena 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93