Northwest Bank Provides $17.5M Construction Loan For Special Purpose Property In Santa Clarita
21145 Diamond Place, Santa Clarita, California 91350, United States
$17,500,000
$171/SF
Building Size
102,000 SF
Asset Type
—
Closing
May 19, 2022
AI
21145 Diamond Pl is a special purpose property located in Santa Clarita. The property spans 102,000 square feet and is owned by Salazar Construction.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $17,500,000
- Address: 21145 Diamond Pl, Santa Clarita
- Market: Santa Clarita
- Lender: Northwest Bank
- Landlord: Salazar Construction
- Broker: Brandon Perdeck - Aries Capital
- Loan Type: Construction
- Loan Terms: 3 year construction period with mini-perm extension, 3.7% rate
Brandon Perdeck, from Aries Capital, represented the parties involved in this transaction. Aries Capital specializes in financing storage and deals with various asset classes nationwide.
Note: Aries Capital is actively financing storage (permanent, bridge, construction) in addition to all asset classes nationwide, please reach out to @brandonperdeck for further details or loan requests.
Players
Santa Clarita CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93