Thor Equities Secures $11.9M Bridge Loan For Industrial Property In Ontario, CA
FINANCED
$11,900,000
+ 2
California
See Similar DealsIndustrial57,984 SF
Financed 06/01/2023
FINANCED
Thor Equities Secures $11.9M Bridge Loan For Industrial Property In Ontario, CA
5651 E Francis St Ontario, CA 91761, USA
See Similar DealsIndustrial57,984 SF
Financed 06/01/2023
+ 2
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$205
Total Square Footage:57,984 SF
Transaction Type:Loan
The industrial property located at 5651 East Francis Street in Ontario, CA has recently been involved in a loan transaction. Consisting of 57,984 square feet, this property was subject to a bridge loan.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $11,900,000
- Loan Type: Bridge Loan
- Loan Terms: 3 + 1 + 1, 62% LTC, SOFR + 2.75%, Non-Recourse
Thor Equities, represented by Brian Hughes-Cromwick, acted as the landlord in this transaction. Working on behalf of the parties involved, the brokers Marc Schillinger, David Sitt, Max Mraz, and Keaton Yellin from JLL facilitated the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,900,000.00
Monthly NOI$79,333.33
Monthly Debt Service$75,216.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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