Updated Mar 11, 2025
Continental Partners Provides $5.35M Construction Loan For Panorama City Development Site
14721 Blythe Street, Panorama City, California 91402, United States
$5,350,000
$243/SF
Building Size
21,999 SF
Asset Type
Development Site
Closing
Apr 10, 2022
About this deal
AI
A development site located at 14721 Blythe St. in Panorama City has recently closed a loan transaction. The property has a buildable square footage (BSF) of 21,999 and is designated as a development site.
Summary of transaction details
- Property Type: Development Site
- Date: 04/11/2022
- Address: 14721 Blythe St.
- Market: Panorama City
- BSF: 21,999
- Loan Amount: $5,350,000
- Loan Type: Construction
- Loan Terms: 24 Month Construction Loan at 65% Loan to Cost at Prime + 0.50%
- Lender: Continental Partners
- Landlord: Esme Memon
- Broker: Brian Asheghian
The loan transaction was facilitated by Brian Asheghian of Continental Partners as the broker. The loan amount secured for this development site was $5,350,000. The loan type is specifically a construction loan with a duration of 24 months. The loan terms were set at a loan-to-cost ratio of 65% and an interest rate of Prime + 0.50%.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93