Archway Capital Provides $3 Million Acquisition Loan For 90k SF Office Building In Oakland

The property asset involved in this transaction is a 10-story office building with ground-floor retail located at 1440 Broadway in Oakland. The building encompasses a total square footage of 90,693 and is currently 41% occupied, presenting significant value-add potential. The loan amount secured for the acquisition is $3,000,000, provided by Archway Capital under favorable terms.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $3,000,000
• Asset Address: 1440 Broadway
• Market: Oakland
• Asset Size: 90,693 SF
• Lender: Archway Capital - Marissa Wilbur
• Loan Type: Acquisition
• Loan Terms: 55% LTPP, 9.5% IO Fixed rate, 24-month term, no interest reserve or yield maintenance requirements
• Brokers: Andrew N. Westling, Riley Manke & Evan Wells - Walker & Dunlop

This transaction involved an experienced operator who acquired the property from a lender that had previously foreclosed on it in 2023. The operator aims to improve occupancy by offering competitive lease rates that are below current market comparables, positioning the asset for long-term stabilization as the Downtown Oakland office market rebounds. Archway Capital provided a 55% LTPP bridge loan to support this acquisition, highlighting the potential for value addition.