Slatt Capital Secures $10.2M Loan For Development Site The Standard In Pasadena
$10,200,000
Building Size
—
Asset Type
Development Site
Closing
Mar 6, 2026
AI
The Standard is a development site located in Pasadena, featuring a total built square footage of 27,389. The asset was originally constructed in 1905 and is positioned for repositioning strategies through financial backing.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $10,200,000
- Loan Terms: five-year
- Market: Pasadena
- Asset Size: 27,389 square feet
The transaction was facilitated by Slatt Capital, with Gary Goss leading the arrangement for a $10.2 million life company refinancing. Bret Piekaar contributed as co-producer, supporting the financing efforts for the asset's strategic repositioning.
Players
Market 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
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93