Continental Partners Provides $6.4M Construction Loan For Development Site On Blix St. In North Hollywood
FINANCED
$6,400,000
California
See Similar DealsDevelopment Site14,370 SF
Financed 04/29/2022
FINANCED
Continental Partners Provides $6.4M Construction Loan For Development Site On Blix St. In North Hollywood
10806 Blix Street, North Hollywood, California 91602, United States
See Similar DealsDevelopment Site14,370 SF
Financed 04/29/2022
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$445
Total Square Footage:14,370 SF
Transaction Type:Loan
The development site located at 10806 Blix St. in North Hollywood has recently secured a construction loan. The loan, provided by Continental Partners, amounts to $6,400,000 and is a 10-year fixed construction to perm loan. The loan terms include a 3.95% interest rate and cover 70% of the cost of the project. This development site has a buildable square footage (BSF) of 14,370 and is owned by Eli Meborakh.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $6,400,000
- Loan Type: Construction
- Loan Terms: 10 Year Fixed Construction to Perm Loan at 3.95% Interest Rate at 70% of Cost
The loan transaction was facilitated by brokers Brian Asheghian and JM Grimaldi from Continental Partners. They represented the parties involved in securing the loan for this development site in North Hollywood.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,400,000.00
Monthly NOI$42,666.67
Monthly Debt Service$40,452.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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