Updated Aug 27, 2026
Ladder Capital Provides $44.7 Million Recapitalization Loan For Office Property At 351 California Street
351 California Street
$44,700,000
$312/SF
Building Size
142,861 SF
Asset Type
Office
Closing
Aug 21, 2026
About this deal
AI
The property asset involved in the transaction is an office located at 351 California Street, San Francisco, with a total square footage of 142,861. The loan amount secured for this asset is $44,700,000, associated with a recapitalization loan type.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $44,700,000
- Lender: Ladder Capital
- Loan Originators: Adam Spengler, Adam Weiss & Everette Lassiter
- Landlord's Representatives: Jordan Angel, Taylor Gimian & Andrew Deaver - JLL
The transaction highlights the collaboration among key representatives, including Jordan Angel, Taylor Gimian, and Andrew Deaver from JLL, who played a crucial role in representing the landlord during the deal, ensuring the successful closure of the loan arrangement for the office asset.
Players
San Francisco 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93