Deutsche Bank Provides $140 Million Refinance Loan To Castle & Cooke For Retail Asset In Corona
2470 Tuscany Road
$140,000,000
$167/SF
Building Size
833,995 SF
Asset Type
Retail
Closing
Oct 9, 2024
AI
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
Corona 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93