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Majestic Asset Management Inc. has paid $13.125 million, or $226.29/sf, for the 58,000-square-foot office building at 120 Cremona Drive in Goleta, Calif., which is near Santa Barbara, Calif., and northwest of Los Angeles. The Agoura Hills, Calif., company purchased the ...
fully leased to AppFolio Inc., a tech company that develops business software.
The property is encumbered by $140 million of financing, with $100 million of that securitized through JPMorgan Chase Commercial Mortgage Securities Trust, 2014-FL5. The loan pays a coupon pegged to Libor plus 137 basis points and matures next July.
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© 2023 Commercial Real Estate Direct All rights reserved..