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Eureka Street

Black Bear Capital Partners ("BBCP") Secures $8.1M Refinance for Weatherford, TX Medical Office Portfolio
FINANCEDOffice

Black Bear Capital Partners ("BBCP") Secures $8.1M Refinance for Weatherford, TX Medical Office Portfolio

Eureka Street

$8,100,000

$188/SF

Building Size

42,988 SF

Asset Type

Office

Closing

Nov 26, 2024

AI

The property asset involved in this transaction is a medical office located at 831, 879, 891, 905, and 907 E Eureka Street in Weatherford, TX. It comprises a total square footage of 42,988, supported by a refinancing loan amounting to $8,100,000.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $8,100,000
  • Lender: East West Bank
  • Loan Type: Refinance
  • Loan Terms: 7-Year floating-rate loan featuring future SWAP optionality, 30-year amortization, and no prepayment penalty.
  • Broker: Brandon Harris - Black Bear Capital Partners

This transaction was facilitated by Brandon Harris, who represents Black Bear Capital Partners in the brokerage aspect of the deal, coordinating between the lender and the property stakeholders.

Players

Brandon Harris

Black Bear Capital Partners

Broker

$1.2B

vol

75 deals

Broker
East West Bank
East West BankLender

Weatherford 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

1.96%

Cash-on-Cash

-0.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93