Southern Company Services Headquarters
An office property in Birmingham, Alabama. Securitized in 2 CMBS deals in 2018.
$153.2MAppraised value (latest deal)
100.0%Occupancy
$8.5MUnderwritten NOI
5.5%Implied cap rate
- Address
- 3525 & 3535 Colonnade Parkway, Birmingham, AL 35243
- Property type
- Office · Suburban
- Year built
- 1988
- Size
- 669,438 SF
- Sponsor
- Griffin Capital Company, LLC
- Loan purpose
- Refinance
- Largest tenant
- Southern Services
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| MSC 2018-H3 | 2018-07-12 | $153.2M | 100.0% | $8.5M | 5.5% | $31.9M | 60.2% | 424B | |
| MSC 2018-L1 | 2018-10-23 | $153.2M | 100.0% | $8.5M | 5.5% | $23.9M | 60.2% | 424B |
Historical NOI reported in MSC 2018-L1
| Period ending | NOI |
|---|---|
| 12/31/2017 | $909K |
More CMBS properties in Alabama →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.