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August 18, 2018
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Silicon Valley Office Buy Financed with $41 Mil Bridge Loan

5/15/18

Vahe Tashjian of Dutchints Development has purchased a 71k sf office asset in the Silicon Valley from an institutional seller. Although the actual price was not given out, we do know that the deal was financed with a $41 mil bridge loan at 85% loan to purchase price, which would put the sale in the neighborhood of $48 mil ($675/sf) or so.

George Smith Partnersí Malcolm Davies, Evan Kinne, Zachary Streit, Alexander Rossinsky and Rachael Lewis arranged the high-leverage financing. The loan has a rate of LIBOR + 5.62 percent. The non-recourse loan is interest-only for the 24-month term.





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