Updated Dec 4, 2024
Lucent Capital Secures $41 Million Refinance Loan For 288 Santa Anita Avenue Office Portfolio
$41,000,000
$471/SF
Building Size
87,058 SF
Asset Type
Office
Closing
Oct 14, 2024
About this deal
AI
The property asset involved in this transaction is an office located at 288 Santa Anita Avenue, Southern California, and encompasses a total of 87,058 square feet. The loan amount secured for this asset is $41,000,000, categorized under a refinance loan type structured as a 6 Property MOB Portfolio Refinancing.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $41,000,000
- Loan Type: Refinance
- Loan Terms: 6 Property MOB Portfolio Refi
- Lender: Lucent Capital
- Brokers: Adam Emrani, Isaac Gabai & Leah Emrani - Lucent Capital
- Date of Transaction: 10/14/2024
- Address: 288 Santa Anita Avenue
- Market: Southern California
- Asset Square Footage: 87,058
Key individuals involved in the transaction include Adam Emrani, Isaac Gabai, and Leah Emrani, who represent Lucent Capitalas the brokers facilitating the loan arrangement. Adam Emrani can be contacted at [email protected] or by phone at 310.876.8456.
Players
Market 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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93