Lee Kleinman Of Business Finance Capital CDC Provides $11.7M Acquisition Loan For Industrial Property In Los Angeles

The industrial property located at 2221-2235 E. Washington Blvd. in Los Angeles was recently involved in a closed transaction. The property spans a total of 37,202 square feet and is situated on an 88,804 square foot lot. The market value of this asset was $13,000,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $13,000,000

This acquisition loan was facilitated by Lee Kleinman from Business Finance Capital CDC. Yossi Liani and Ayelet Bazon acted as the landlords in this deal.

The loan amount for this transaction was $11,700,000. The loan type was an Acquisition Loan, specifically through the SBA 504 loan program. The financing structure consisted of the bank providing 50% of the project cost as a first mortgage, while the SBA financed 40% as a second mortgage. It should be noted that the total loan amount exceeded the sale price of the property, which was $13,000,000.