Matthew Miller Leases Industrial Property To Long-Term Tenant In Pacoima For $6.2M Loan

The asset involved is an industrial property located at 10260 Glenoaks Boulevard in Pacoima, comprising a total square footage of 18,323. The property was acquired for a total transaction amount of $6,200,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $6,200,000
• Loan Amount: $5,640,000
• Loan Type: Acquisition
• Loan Terms: Owner user purchase through the SBA 504 program, with bank financing 50% of the purchase and SBA financing 40% as a second mortgage
• Down Payment: 10%
• Landlord: Matthew Miller
• Lender: Lee Kleinman - Business Finance Capital CDC

Lee Kleinman, a financial services veteran with over 36 years of experience, facilitated the loan through Business Finance Capital, recognized as a top local and nationally ranked Certified Development Company (CDC). This transaction involved a long-term tenant who purchased the property.