Deutsche Bank Provides $140 Million Refinance Loan To Castle & Cooke For Retail Asset In Corona
FINANCED
$140,000,000
California
See Similar DealsRetail833,995 SF
Financed 10/09/2024
FINANCED
Deutsche Bank Provides $140 Million Refinance Loan To Castle & Cooke For Retail Asset In Corona
2470 Tuscany Road
See Similar DealsRetail833,995 SF
Financed 10/09/2024
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$167
Total Square Footage:833,995 SF
Transaction Type:Loan
The property involved in this transaction is a retail asset located at 2470 Tuscany Road in the Corona market, featuring a total square footage of 833,995. The transaction pertains to a refinance loan amounting to $140,000,000, secured through Deutsche Bank, with fixed-rate balance sheet loan terms.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $140,000,000
- Address: 2470 Tuscany Road
- Market: Corona
- Lender: Deutsche Bank
- Landlord: Castle & Cooke
- Brokers: John Marshall & Spencer Seibring - JLL
- Loan Type: Refinance
- Loan Terms: Balance Sheet, Fixed Rate
The key individuals involved in the transaction include John Marshall and Spencer Seibring, who represent JLL as the brokers in this deal, facilitating the refinance process for the landlord, Castle & Cooke, while coordinating with the lender, Deutsche Bank.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$140,000,000.00
Monthly NOI$933,333.33
Monthly Debt Service$884,895.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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