Business Finance Capital CDC Provides $7.5M Loan For North Hollywood Industrial Property

The industrial property located at 6840 Vineland Avenue in North Hollywood has been acquired through an owner-user purchase. The property consists of 23,960 square feet and is situated on a 1.25 acre site. The transaction took place for a total price of $7,500,000, with the project also including financed tenant improvements.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $7,500,000
• Market: North Hollywood
• Address: 6840 Vineland Avenue
• Square Footage: 23,960 SF

The loan for the acquisition was provided by Lee Kleinman from Business Finance Capital CDC. The loan amount was $7,472,209 and it was an acquisition loan. The financing structure followed the SBA 504 program, with the bank providing a 50% first mortgage and the SBA offering a 40% second mortgage.

The landlord in this transaction is Tara Stephenson-Fong. Representing the buyer in the deal was David Hoffberg from Delphi Business Properties.