Alturas Capital Partners Acquires Sandy Commerce Park Office Building For $13M
$13,000,000
$107/SF
Building Size
121,197 SF
Asset Type
Office
Closing
Nov 29, 2023
About this deal
AI
Alturas Capital Partners LLC has successfully secured a $13 million, five-year acquisition loan from Symetra Life Insurance for the purchase of Sandy Commerce Park. This Class A office building, located at 9490 South 300 West in Sandy, Utah, spans a total area of 121,197 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,000,000
- Lender: Margaret A. Meister - Symetra Life Insurance
- Landlord: Alturas Capital Partners LLC
- Brokers: Mark Root & Will Haass - JLL
The loan provided by Symetra Life Insurance has allowed Alturas Capital Partners LLC to acquire Sandy Commerce Park. This strategic financing arrangement demonstrates the confidence in the property's potential and the parties involved in the deal.
Players
Market 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93