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CGI Strategies Secures $47.8M Loan For Development Site In Koreatown

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FINANCED
$47,800,000

California

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Development Site6,750 SF
Financed 03/19/2020
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Property Image
FINANCED

CGI Strategies Secures $47.8M Loan For Development Site In Koreatown

837 South Fedora Street, Los Angeles, CA, USA

See Similar Deals
Development Site6,750 SF
Financed 03/19/2020
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$7,081
Total Square Footage:6,750 SF
Transaction Type:Loan

A development site located at 837 S. Fedora Street in Koreatown has been involved in a closed transaction. The loan for this property was provided by Dekel Capital, with a loan amount of $47,800,000. The property consists of 200 units and is owned by CGI Strategies, represented by Gidi Cohen. The transaction took place on 03/19/2020.

Summary of transaction details:

  • Property Type: Development site
  • Transaction Amount: $47,800,000
  • Address: 837 S. Fedora Street
  • Market: Koreatown
  • Units: 200
  • Lender: Dekel Capital
  • Landlord: CGI Strategies - Gidi Cohen
  • Date: 03/19/2020

This transaction involved the collaboration between Dekel Capital as the lender and CGI Strategies, represented by Gidi Cohen, as the owner. The development site, located at 837 S. Fedora Street in Koreatown, features 200 units. The loan provided by Dekel Capital amounted to $47,800,000. The transaction was finalized on 03/19/2020.

Players

LENDER

Gidi Cohen
7 deals$337.3M volume
LANDLORD

Details

FINANCED
IMAGE: Gidi Cohen DATE: 03/19/2020 ADDRESS: 837 S. Fedora Street MARKET: Koreatown ASSET TYPE: Development site LENDER: Dekel Capital LANDLORD: CGI Strategies - Gidi Cohen LOAN AMOUNT: $47,800,000 UNITS: 200

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$47,800,000.00

Monthly NOI$318,666.67
Monthly Debt Service$302,128.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00