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California Loan Servicing Secures $16.25M Acquisition Loan For Vista Industrial Property

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FINANCED
$16,250,000
 Melvin Maghari Jr
Ryan Bunting
+ 1

California

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Industrial102,239 SF
Financed 12/14/2023
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FINANCED

California Loan Servicing Secures $16.25M Acquisition Loan For Vista Industrial Property

3225 Executive Ridge

See Similar Deals
Industrial102,239 SF
Financed 12/14/2023
 Melvin Maghari Jr
Ryan Bunting
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$158
Total Square Footage:102,239 SF
Transaction Type:Loan

The industrial property located at 3225 Executive Ridge in Vista spans 102,239 square feet. The acquisition loan for this property was provided by Symetra Life Insurance Company towards the owner Kevin Chandru. The loan amount totals $16,250,000 with specific terms that include a 60% loan-to-value ratio, an 18-month interest-only period, followed by a 24-year amortization schedule at a rate of 7.40%.

Summary of transaction details:

The unique individuals involved in this transaction include Trevor Damyan, Melvin Maghari Jr, Ryan Bunting, and Hugh Hoang from California Loan Servicing, representing Symetra Life Insurance Company in providing the acquisition loan for the industrial property in Vista.

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

Symetra Life Insurance
LENDER

Details

FINANCED
IMAGE: Trevor Damyan, Melvin Maghari Jr, Ryan Bunting & Hugh Hoang DATE: 12/14/2023 ADDRESS: 3225 Executive Ridge MARKET: Vista ASSET TYPE: Industrial ~ SF: 102,239 LENDER: Symetra Life Insurance Company (@Symetra) LANDLORD: Kevin Chandru LENDER'S REP: Trevor Damyan (@CommercialLoanBroker), Melvin Maghari Jr, Ryan Bunting & Hugh Hoang - California Loan Servicing (CLS) LOAN AMOUNT: $16,250,000 LOAN TYPE: Acquisition Loan LOAN TERMS: 60% LTV, 18-months Interest Only, followed by 24 year amortization, 7.40%

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,250,000.00

Monthly NOI$108,333.33
Monthly Debt Service$102,711.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00