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Gantry Arranges $14.2M Refinance Loan For Retail Center In Milpitas

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FINANCED
$14,200,000
Erinn Cooke
Andrew Mekjavich
Benjamin (Ben) Johnson

California

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Retail48,000 SF
Financed 08/15/2023
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Property Image
FINANCED

Gantry Arranges $14.2M Refinance Loan For Retail Center In Milpitas

1195 E Calaveras Blvd Milpitas, CA 95035, USA

See Similar Deals
Retail48,000 SF
Financed 08/15/2023
Erinn Cooke
Andrew Mekjavich
Benjamin (Ben) Johnson
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$295
Total Square Footage:48,000 SF
Transaction Type:Loan

A $14.2 million permanent loan has been secured by Gantry to refinance a retail center in Milpitas. The property, located at 1195 East Calaveras Boulevard, spans 48,000 square feet and is situated in the Milpitas market.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $14,200,000
  • Address: 1195 East Calaveras Boulevard
  • Market: Milpitas
  • Loan Type: Refinance
  • Loan Terms: Fixed-rate

Gantry's San Francisco office arranged the loan, which was provided by a regional bank. The loan aims to retire a previous debt facility from 2018.

Players

Erinn Cooke
Gantry
Erinn Cooke
15 deals$333.5M volume(415) 956-9856
BROKER
Andrew Mekjavich
Gantry
Andrew Mekjavich
2 deals$19.7M volume(415) 985-1811
BROKER
Benjamin (Ben) Johnson
Gantry
Benjamin Johnson
2 deals$27.7M volume(707) 731-4588
BROKER

Details

FINANCED
IMAGE: Andrew Mekjavich, Ben Johnson & Erinn Cooke DATE: 08/15/2023 ADDRESS: 1195 East Calaveras Boulevard MARKET: Milpitas ASSET TYPE: Retail ~ SF: 48,000 BROKERS: Andrew Mekjavich, Ben Johnson & Erinn Cooke - Gantry (@Gantry_Inc) LOAN AMOUNT: $14,200,000 LOAN TYPE: Refinance LOAN TERMS: fixed-rate NOTE: Gantry secured a $14.2 million permanent loan to refinance a 48,000-square-foot retail center in Milpitas. The loan was arranged by Gantry's San Francisco office and provided by a regional bank to retire a previous debt facility from 2018.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,200,000.00

Monthly NOI$94,666.67
Monthly Debt Service$89,753.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00