W Financial Provides $20.5 Million Loan For Retail Property In Los Gatos
FINANCED
$20,500,000
California
See Similar DealsRetail6,452 SF
Financed 06/24/2020
FINANCED
W Financial Provides $20.5 Million Loan For Retail Property In Los Gatos
2 North Santa Cruz Avenue, Los Gatos, CA, USA
See Similar DealsRetail6,452 SF
Financed 06/24/2020
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$3,177
Total Square Footage:6,452 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,500,000.00
Monthly NOI$136,666.67
Monthly Debt Service$129,573.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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