Updated Oct 28, 2024
W Financial Provides $20.5 Million Loan For Retail Property In Los Gatos
2 North Santa Cruz Avenue, Los Gatos, CA, USA
$20,500,000
$3,177/SF
Building Size
6,452 SF
Asset Type
Retail
Closing
Jun 24, 2020
About this deal
AI
A $20,500,000 loan was secured for the retail property located at 2 North Santa Cruz Avenue and 143-151 Main Street in Los Gatos. The loan was obtained on 06/24/2021 from W Financial, with Andrew Singer representing the lender. The property is owned by KOCH Development and is situated in the Los Gatos market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $20,500,000
- Lender: W Financial - Andrew Singer
- Landlord: KOCH Development
Cory Horowitz and Jordan Horowitz served as brokers in this transaction. They were the representatives for the deal but were not directly involved as the buyer, seller, landlord, or tenant.
On the Map
$20,500,000
$3,177/SF
Retail
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Players
Los Gatos Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.77%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93