Updated Mar 11, 2025
Correspondent Life Company Provides $7M Refinance Loan For Rancho Cucamonga Industrial Property
11650 Mission Park Drive
$7,000,000
$108/SF
Building Size
64,758 SF
Asset Type
Industrial
Closing
Feb 17, 2023
About this deal
AI
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
Market Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93