Ally Commercial Real Estate Secures $11.1M Loan Refinance For Downtown Los Angeles Retail Property

The retail property located at 735 E. 12th St. in Downtown Los Angeles was recently involved in a loan transaction. The property spans 15,597 square feet and is situated in the Downtown Los Angeles market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $11,100,000
• Loan Type: Refinance
• Loan Terms: 70% LTV, Interest Only followed by 24-year amortization, 10-year term, 1.20 DSCR

Trevor Damyan of Ally Commercial Real Estate represented the buyer in securing a loan amount of $11,100,000. The loan is a refinance with a loan-to-value (LTV) ratio of 70%. The loan terms include an interest-only period followed by a 24-year amortization schedule. The loan has a 10-year term and a debt service coverage ratio (DSCR) of 1.20.