LaSalle Investment Management Provides $25.5M Acquisition Loan For Sausalito Office Park

The property involved in the transaction is a two-building office park located at 1 Harbor Drive in Sausalito, comprising a total square footage of 116,000. The transaction was facilitated through a loan amount of $25,500,000 designated for acquisition purposes. The loan features a 2-year term with a loan-to-cost ratio of 70%.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $25,500,000
• Loan Amount: $25,500,000
• Loan Type: Acquisition
• Loan Terms: 2 Year Term, 70% LTC
• Asset Size: 116,000 SF
• Address: 1 Harbor Drive
• Market: Sausalito
• Lender: Craig Oram & James Lee - LaSalle Investment Management
• Broker: Mike Guterman - Bellwether Enterprise (BWE)

BWE secured the bridge loan in less than 30 days from the execution of the term sheet, ensuring the transaction met the year-end closing requirement. This efficiency showcases the effectiveness of the brokerage in managing time-sensitive acquisitions.