Correspondent Life Company Provides $7M Refinance Loan For Rancho Cucamonga Industrial Property
FINANCED
$7,000,000
California
See Similar DealsIndustrial64,758 SF
Financed 02/17/2023
FINANCED
Correspondent Life Company Provides $7M Refinance Loan For Rancho Cucamonga Industrial Property
11650 Mission Park Drive
See Similar DealsIndustrial64,758 SF
Financed 02/17/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$108
Total Square Footage:64,758 SF
Transaction Type:Loan
The industrial property at 11650 Mission Park Drive in Rancho Cucamonga has been involved in a loan transaction. The property spans across 64,758 square feet. The loan, with a refinancing purpose, amounts to $7,000,000. It is provided by Correspondent Life Company. The loan terms include a fully-amortizing 25-year loan with a 5.875% interest rate. Additionally, it involves a cash-out refinance.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Lender: Correspondent Life Company
Kamron Aghevli from Bandon Capital Advisors, Inc. acted as the broker for this loan transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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