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Societe General Group Provides $60.5M Acquisition Loan For Office Building In Herndon, VA

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FINANCED
$60,500,000

Virginia

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Office270,000 SF
Financed 03/02/2023
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FINANCED

Societe General Group Provides $60.5M Acquisition Loan For Office Building In Herndon, VA

13820 Sunrise Valley Drive

See Similar Deals
Office270,000 SF
Financed 03/02/2023
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Summary

VIRGINIA
Asset Type:Office
Price Per Square Foot:$224
Total Square Footage:270,000 SF
Transaction Type:Loan

Located at 13820 Sunrise Valley Drive in Herndon, VA, this office property spans 270,000 square feet. The property was recently involved in a closed transaction, with the acquisition financed through a loan provided by Societe General Group. The loan amount for the transaction was $60,500,000. The property is owned by Fred Arena of Vision Properties and represented by Brad Domenico from Progress Capital.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $60,500,000
  • Address: 13820 Sunrise Valley Drive, Herndon, VA
  • Market: Herndon, VA
  • Lender: Societe General Group
  • Landlord: Fred Arena of Vision Properties
  • Broker: Brad Domenico - Progress Capital

The acquisition loan provided by Societe General Group facilitated the purchase of the office property at 13820 Sunrise Valley Drive. Fred Arena of Vision Properties acted as the landlord in this transaction, while Brad Domenico from Progress Capital represented the buyer.

Players

Brad Domenico
134 deals$3.6B volume
BROKER

Societe Generale
LENDER

Fred Arena
6 deals$396.6M volume
LANDLORD

Details

FINANCED
IMAGE: Brad Domenico DATE: 03/02/2023 ADDRESS: 13820 Sunrise Valley Drive MARKET: Herndon, VA ASSET TYPE: Office ~ SF: 270,000 LENDER: Societe General Group (@SocieteGenerale) LANDLORD: Fred Arena Of Vision Properties BROKER: Brad Domenico (@Domenico317) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $60,500,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$60,500,000.00

Monthly NOI$403,333.33
Monthly Debt Service$382,401.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00