Continental Partners Provides $7.16M Loan For Industrial Property In Carson

The asset involved in this transaction is an industrial property located at 1135 East Artesia Boulevard in Carson, California. The property is utilized primarily for processing low fat, gluten free, vegan, and vegetarian entrees. The transaction was facilitated alongside a loan amount of $7,163,000. The loan was structured at 65% of the property's value and featured a fixed interest rate of 3.875% over a period of 7 years, with the first 6 months being interest-only payments, followed by amortization over a 30-year schedule.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $7,163,000
• Lender: Continental Partners
• Brokers: JM Grimaldi & Dave Brelian
• Loan Terms: 7-years fixed at 3.875% - first 6 months interest-only, then amortized over 30-year schedule

This transaction involved key representation by brokers JM Grimaldi and Dave Brelian. The loan was utilized to refinance existing high yield first and second trust deeds, providing cash that will be reinvested into the operating business, noted for being one of the early entrants into the healthy and organic frozen foods market.