Vella Group Secures $28.1M Loan For Industrial Property In Hawthorne
FINANCED
$28,100,000
California
See Similar DealsIndustrial61,412 SF
Financed 07/30/2019
FINANCED
Vella Group Secures $28.1M Loan For Industrial Property In Hawthorne
12515 Cerise Avenue, Hawthorne, CA, USA
See Similar DealsIndustrial61,412 SF
Financed 07/30/2019
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$457
Total Square Footage:61,412 SF
Transaction Type:Loan
The industrial property located at 12515-12519 Cerise Avenue in Hawthorne has been involved in a closed transaction. The property spans across 61,412 square feet and was purchased for a loan amount of $28,100,000. The lender for this transaction was M&T Bank. The property is owned by the Vella Group and the deal was represented by brokers Adam Bakhash and Zach Vella.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $28,100,000
- Square Footage: 61,412
- Address: 12515-12519 Cerise Avenue
- Market: Hawthorne
The Vella Group acted as the landlord in this transaction, while M&T Bank provided the loan. The buyers, represented by Adam Bakhash and Zach Vella as their brokers, successfully acquired the property. This closed deal showcases the involvement of key individuals and companies in the industrial market of Hawthorne.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,100,000.00
Monthly NOI$187,333.33
Monthly Debt Service$177,611.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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