Updated Oct 29, 2024
First Pacific Financial Provides $21.5M Loan For Development Site On Woodley Avenue In Van Nuys
6847 Woodley Avenue, Van Nuys, CA, USA
$21,500,000
$216/SF
Building Size
99,398 SF
Asset Type
Development Site
Closing
Mar 22, 2021
About this deal
AI
The development site located at 6847-6863 Woodley Avenue in Van Nuys has recently secured a loan amount of $21,500,000. The property spans a total square footage of 99,398 and is owned by Extra Space Storage. First Pacific Financial served as the lender for this transaction.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $21,500,000
- Address: 6847-6863 Woodley Avenue
- Market: Van Nuys
- Loan Lender: First Pacific Financial
- Landlord: Extra Space Storage
Todd Sherman and Grant Feitshans, representing First Pacific Financial, played a crucial role as the brokers in this deal. Their expertise and negotiation skills contributed to the successful completion of this transaction.
On the Map
$21,500,000
$216/SF
Development Site
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Players
Van Nuys 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93