Updated Oct 29, 2024
Buchanan Mortgage Holdings Provides $25M Construction Loan For Industrial Property In Perris, CA
19885 Harvill Avenue, Perris, California 92570, United States
$25,000,000
$471,698/SF
Building Size
53 SF
Asset Type
Industrial
Closing
Oct 11, 2022
About this deal
AI
An industrial property located at 19885 Harvill Ave in Perris, CA has been involved in a closed transaction. The property spans approximately 53,000 square feet and sits on a 10.5-acre parcel of land. The deal was marked by a construction loan provided by Buchanan Mortgage Holdings, LLC. The loan amount was $25,000,000, and it was a non-recourse loan with a loan-to-cost (LTC) ratio of 81%.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Address: 19885 Harvill Ave, Perris, CA
- Market: Perris, CA
- Square Footage: 53,000
- Acres: 10.5
The construction loan for the industrial property at 19885 Harvill Ave was provided by Buchanan Mortgage Holdings, LLC. Scott Magoffin represented Buchanan Mortgage Holdings, LLC in the transaction.
On the Map
$25,000,000
$471,698/SF
Industrial
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Perris 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93