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3225 Executive Ridge

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

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

3225 Executive Ridge

$16,250,000

$158/SF

Building Size

102,239 SF

Asset Type

Industrial

Closing

Dec 14, 2023

AI

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

CLS | CRE

Broker

$207M

vol

13 deals

Broker
Symetra Life Insurance
Symetra Life InsuranceLender

Vista 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

0.98%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93