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Unico Secures $35 Million Loan For 305000 SF Office At 1201 Pacific Avenue Tacoma WA
FINANCED
$35,000,000
Washington
See Similar DealsOffice305,000 SF
Financed 12/06/2024
FINANCED
Unico Secures $35 Million Loan For 305000 SF Office At 1201 Pacific Avenue Tacoma WA
1201 Pacific Avenue
See Similar DealsOffice305,000 SF
Financed 12/06/2024
Summary
WASHINGTON
Asset Type:Office
Price Per Square Foot:$114
Total Square Footage:305,000 SF
Transaction Type:Loan
The asset involved in this transaction is an office property located at 1201 Pacific Avenue in Tacoma, WA. The total square footage of the property is 305,000, with a loan amount of $35,000,000. The loan is structured as a 10-year, fixed rate, non-recourse agreement.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $35,000,000
- Loan Terms: 10-year, fixed rate, non-recourse
- Address: 1201 Pacific Avenue
- Market: Tacoma, WA
- Landlord: Unico
- Brokers: Mike Taylor & Jeff Ballaine - Gantry
Key individuals involved in this transaction include the landlord Unico and brokers Mike Taylor and Jeff Ballaine, who represent the parties in this deal through Gantry. Their role highlights the professional involvement necessary to facilitate the transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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