Buchanan Mortgage Holdings Provides $25M Construction Loan For Industrial Property In Perris, CA
FINANCED
$25,000,000
California
See Similar DealsIndustrial53 SF
Financed 10/11/2022
FINANCED
Buchanan Mortgage Holdings Provides $25M Construction Loan For Industrial Property In Perris, CA
19885 Harvill Avenue, Perris, California 92570, United States
See Similar DealsIndustrial53 SF
Financed 10/11/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$471,698
Total Square Footage:53 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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