Optimum Bank Provides $8,200,000 Acquisition Loan For Office Assets In Iowa
100 East Kimberly Road & 2550 Middle Road
$8,200,000
Building Size
—
Asset Type
Office
Closing
Apr 15, 2026
About this deal
AI
The transaction involves office properties located at 100 East Kimberly Road and 2550 Middle Road in Davenport and Bettendorf, IA. The acquisition loan amounted to $8,200,000, facilitated by Optimum Bank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $8,200,000
- Lender: Optimum Bank
- Brokers: Elliott Birnbaum & Jason Bogopulsky - Meridian Capital Group
- Market: Davenport & Bettendorf, IA
Elliott Birnbaum and Jason Bogopulsky acted as brokers in this transaction, representing the deal facilitated with the lender for the acquisition of the office assets.
On the Map
$8,200,000
Office
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Players
Davenport Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93