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7046 Darby Avenue

Lee Kleinman Of Business Finance Capital CDC Provides $2.79M Acquisition Loan For Reseda Industrial Property
FINANCEDIndustrial

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:

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

Business Finance Capital
Business Finance CapitalLender

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