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First Pacific Financial Provides $21.5M Loan For Development Site On Woodley Avenue In Van Nuys

Property Image
FINANCED
$21,500,000
Todd Sherman
Grant Feitshans

California

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Development Site99,398 SF
Financed
the dealplayerscompscontact
Property Image
FINANCED

First Pacific Financial Provides $21.5M Loan For Development Site On Woodley Avenue In Van Nuys

6847 Woodley Avenue, Van Nuys, CA, USA

See Similar Deals
Development Site99,398 SF
Financed
Todd Sherman
Grant Feitshans
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$216
Total Square Footage:99398 SF
Transaction Type:Loan

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

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.

Players

Todd Sherman
Todd Sherman
4 deals$65.6M volume
BROKER
Grant Feitshans
Grant Feitshans
3 deals$30.2M volume
BROKER
First Pacific Financial
First Pacific Financial
LENDER
ES
Extra Space Storage
LANDLORD

Details

FINANCED
IMAGE: Grant Feitshans & Todd Sherman DATE: 03/23/2021 ADDRESS: 6847-6863 Woodley Avenue MARKET: Van Nuys ASSET TYPE: Development Site LENDER: First Pacific Financial LANDLORD: Extra Space Storage BROKERS: Todd Sherman & Grant Feitshans - First Pacific Financial LOAN AMOUNT: $21,500,000 BSF: 99,398

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$21,500,000.00

Monthly NOI$143,333.33
Monthly Debt Service$135,894.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00