Bellevue Professional Center
Oak View Plaza
Design is a funny word
Property Highlights
NOTES
- Property located on a secondary road – limited visibility
- Shorter lease terms on many of the major tenants
- Existing conduit loan on Phase I of the property
- Life company Loan in pre-payment lock-out period on second phase of property
- Complex title issues
- One tenant behind in rent
- Previously unknown structural problem raised by tenant one week prior to closing
Property Overview
The End Result
SALE DATE: 2006
PRICE: $33,250,000
PRICE PSF: $187.85
SALE DATE: 2006
PRICE: $33,250,000
PRICE PSF: $187.85
SALE DATE: 2006
PRICE: $33,250,000
PRICE PSF: $187.85
MAJOR POINTS
- Separated property into two simultaneous closings to maximize tax advantages for Seller
- Worked through last-minute structural issue; tenant in default and title issues
- Defeased conduit loan, pre-paid life company loan
