Lee Kleinman Of Business Finance Capital CDC Provides $2.79M Acquisition Loan For Reseda Industrial Property
7046 Darby Avenue
$2,790,000
$577/SF
Building Size
4,835 SF
Asset Type
Industrial
Closing
May 8, 2024
AI
The industrial property located at 7046 Darby Avenue in Reseda, spanning 4,835 square feet on a .42-acre site, was purchased for $3,100,000. The acquisition was facilitated through an owner-user purchase with financing obtained via the SBA 504 program. The loan structure involved a 50% 1st mortgage provided by the bank and a 40% 2nd mortgage from the SBA.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,100,000
- Lender: Lee Kleinman - Business Finance Capital CDC
- Landlord: Noam Ziv
- Loan Amount: $2,790,000
- Loan Type: Acquisition Loan
In this transaction, Lee Kleinman from Business Finance Capital CDC acted as the lender, supporting the acquisition of the industrial property in Reseda. The landlord, Noam Ziv, played a pivotal role in the deal, overseeing the property's transition as it changed ownership through the SBA 504 program.
Players
Reseda 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
5.69%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93