Business Finance Capital CDC Provides $8.3M Acquisition Loan For Industrial Property In Compton

The loan for the property located at 1435 South Santa Fe Avenue in Compton has been provided by Lee Kleinman, representing Business Finance Capital CDC. The loan amount is $8,304,107, and it is an acquisition loan. This loan was made under the SBA 504 program, with the bank providing a 50% 1st mortgage and the SBA offering a 40% 2nd mortgage. The industrial building, spanning 24,400 square feet, was purchased for $9,226,784, and it sits on a 73,840 square foot lot.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $9,226,784
• Lender: Lee Kleinman - Business Finance Capital CDC
• Loan Amount: $8,304,107
• Loan Type: Acquisition Loan
• Address: 1435 South Santa Fe Avenue
• Market: Compton
• Asset Type: Industrial
• Square Footage: 24,400

Ki Tae Kim is the landlord of the property. The loan transaction was completed through the SBA 504 program, which enables owner-user purchases. It involved a 50% 1st mortgage provided by the bank and a 40% 2nd mortgage provided by the SBA.