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California Loan Servicing Secures $27.5M Refinance Loan In Vernon Industrial Deal

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FINANCED
$27,500,000
 Melvin Maghari Jr
Ryan Bunting
+ 1

California

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Industrial525,000 SF
Financed 03/01/2024
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Property Image
FINANCED

California Loan Servicing Secures $27.5M Refinance Loan In Vernon Industrial Deal

Industrial525,000 SF
Financed 03/01/2024
 Melvin Maghari Jr
Ryan Bunting
+ 1
Contact now

Summary

Asset Type:Industrial
Price Per Square Foot:$52
Total Square Footage:525,000 SF
Transaction Type:Loan

The industrial property located at 1820 27th Street in Vernon, CA, spans a total of 525,000 square feet. The recent transaction involved a refinancing deal with a loan amount of $27,500,000 provided by Midland Servicing. The landlord of the property is Shawn John. The brokers facilitating the transaction were Trevor Damyan, Hugh Hoang, Melvin Maghari Jr, and Ryan Bunting from California Loan Servicing - CLS.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $27,500,000
  • Lender: Midland Servicing
  • Landlord: Shawn John
  • Brokers: Trevor Damyan, Hugh Hoang, Melvin Maghari Jr & Ryan Bunting - California Loan Servicing - CLS
  • Loan Type: Refinance
  • Loan Terms: 5-Year Fixed, Full Term Interest Only, Non-recourse

The team behind this refinancing deal was led by California Loan Servicing - CLS, represented by brokers Trevor Damyan, Hugh Hoang, Melvin Maghari Jr, and Ryan Bunting. The involvement of these key individuals and companies ensured a successful transaction for the industrial property at 1820 27th Street in Vernon, CA.

Players

Trevor Damyan
13 deals$207M volume
BROKER

 Melvin Maghari Jr
CLS | CRE
3 deals$63.3M volume
BROKER

Ryan Bunting
CLS | CRE
3 deals$63.3M volume
BROKER

Hugh Hoang
CLS | CRE
2 deals$43.8M volume(310) 259-2913
BROKER

LENDER

Details

FINANCED
IMAGE: Trevor Damyan, Hugh Hoang, Melvin Maghari Jr & Ryan Bunting DATE: 03/01/2024 ADDRESS: 1820 27th Street MARKET: Vernon, CA ASSET TYPE: Industrial ~ SF: 525,000 LENDER: Midland Servicing LANDLORD: Shawn John BROKERS: Trevor Damyan (@CommercialLoanBroker), Hugh Hoang, Melvin Maghari Jr & Ryan Bunting - California Loan Servicing - CLS LOAN AMOUNT: $27,500,000 LOAN TYPE: Refinance LOAN TERMS: 5-Year Fixed, Full Term Interest Only, Non-recourse

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,500,000.00

Monthly NOI$183,333.33
Monthly Debt Service$173,818.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00