CBRE Arranges $7.5M Loan For Azusa Industrial Property Acquisition
FINANCED
$7,500,000
California
See Similar DealsIndustrial
FINANCED
CBRE Arranges $7.5M Loan For Azusa Industrial Property Acquisition
301 N Aerojet Dr, Azusa, CA, 91702
See Similar DealsIndustrial
Summary
CALIFORNIA
Asset Type:Industrial
Transaction Type:Loan
The industrial property located at 301 and 411 N. Aerojet Drive in Azusa, CA, 91702, was sold in an off-market, sale-leaseback transaction for $12.5 million. The 75,081-square-foot facility was acquired by San Diego-based Sentre. Mortech Manufacturing, the previous owner, executed a new 10-year lease for the entire property upon closing of the sale.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12.5 million
- Market: Azusa
- Borrower's Rep: Morgon Fraser(CBRE), Scott Peterson(CBRE)
- Lender: Unknown life insurance company
- Loan Amount: $7,500,000.00
Scott Peterson and Morgon Fraser of CBRE Capital Markets Debt & Structured Finance Placement team played a key role in arranging a $7.5 million fixed-rate, five-year loan for the acquisition of the industrial property at Azusa Center by Sentre. The details of the loan were successfully put together by this dedicated team.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,500,000.00
Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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