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4328 Alcoa Avenue, Los Ange...

Updated Feb 16, 2024

First Republic Bank Provides $33.9M Fixed Rate Cross Pooled Cash Out Refinance Loan For 7-Property Industrial Portfolio In Los Angeles
FINANCEDIndustrial

First Republic Bank Provides $33.9M Fixed Rate Cross Pooled Cash Out Refinance Loan For 7-Property Industrial Portfolio In Los Angeles

4328 Alcoa Avenue, Los Angeles, California 90058, United States

$33,870,000

$115/SF

Building Size

294,142 SF

Asset Type

Industrial

Closing

Jul 17, 2022

About this deal

AI

An industrial portfolio consisting of seven single tenant industrial properties located at 4328 Alcoa Avenue, 28635 Braxton Ave., 5003 Ontario Mills, 4001 Greystone Drive, 8620 Rochester Ave., 9210 Rochester Court, and 20651 Prism Place in Los Angeles has undergone a loan refinance. The total square footage of the portfolio is 294,142.

Summary of transaction details:

This loan refinance was facilitated by First Republic Bank. The brokers involved in the deal were Marc Schillinger, Max Mraz, Brooke Hinkel from JLL, and Keaton Yellin. The loan amount was $33,870,000 with a fixed rate of 3.40% for a 15-year term and a 30-year amortization schedule. It is worth noting that this transaction involved the refinancing of a 7-property industrial portfolio in Southern California.

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$33,870,000

$115/SF

Industrial

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Players

Marc Schillinger

JLL

Broker

$2.3B

vol

55 deals

Broker
Keaton Yellin
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Keaton Yellin

JLL

Broker

$833.1M

vol

32 deals

Broker
First Republic Bank
First Republic BankLender
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Vernon Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

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Deal FAQ

About $115 per square foot on a published $33.9M for 294,142 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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