Business Finance Capital CDC Provides $8.3M Acquisition Loan For Industrial Property In Compton
FINANCED
$8,304,107
California
See Similar DealsIndustrial24,400 SF
Financed 11/22/2023
FINANCED
Business Finance Capital CDC Provides $8.3M Acquisition Loan For Industrial Property In Compton
1435 Santa Fe Avenue
See Similar DealsIndustrial24,400 SF
Financed 11/22/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$340
Total Square Footage:24,400 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,304,107.00
Monthly NOI$55,360.71
Monthly Debt Service$52,487.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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