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Continental Partners Refinances $23M Loan For Industrial Facility In Carson

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FINANCED
$23,000,000
Dave Brelian
JM Grimaldi

California

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Industrial97,000 SF
Financed 01/19/2024
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FINANCED

Continental Partners Refinances $23M Loan For Industrial Facility In Carson

717 East Artesia Boulevard

See Similar Deals
Industrial97,000 SF
Financed 01/19/2024
Dave Brelian
JM Grimaldi
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$237
Total Square Footage:97,000 SF
Transaction Type:Loan

An industrial, cold storage, and food processing facility located at 717 East Artesia Boulevard in Carson, California has undergone a $23,000,000 loan refinance. The property spans 97,000 square feet.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $23,000,000
  • Address: 717 East Artesia Boulevard, Carson
  • Market: Carson

Continental Partners, a lender, provided non-recourse, full-term interest-only financing for the property. JM Grimaldi and Dave Brelian from Continental Partners represented the owner-user, Cedar Lane Foods, a major manufacturer associated with well-known brands such as Costco, Trader Joe's, and United. The 5-year fixed loan replaced a bridge debt of nearly $18 million that was previously placed on the property.

Players

JM Grimaldi
Continental Partners
JM Grimaldi
22 deals$186M volume(323) 330-6110
BROKER
Dave Brelian
Continental Partners
Dave Brelian
8 deals$89.1M volume
BROKER
Continental Partners
Continental Partners
LENDER

Details

FINANCED
IMAGE: JM Grimaldi & Dave Brelian DATE: 01/19/2024 ADDRESS: 717 East Artesia Boulevard MARKET: Carson ASSET TYPE: Industrial ~ SF: 97,000 LENDER: Continental Partners LANDLORD: Robert Atallah LENDER'S REP: JM Grimaldi (@Watchtog) & Dave Brelian (@DaveBrelian) - Continental Partners (@ContiPartners) LOAN AMOUNT: $23,000,000 LOAN TYPE: Refinance LOAN TERMS: 5-years fixed, interest only NOTE FROM LENDER'S REP: Continental Partners successfully placed another $23,000,000 in non-recourse, full term interest-only, permanent financing for a 97,000 square foot industrial, cold storage and food processing facility in Carson, California. Continental’s JM Grimaldi and David Brelian represented the owner-user, @cedarlanefoods who is a major manufacturer behind recognizable brands like @costco @traderjoes and @united. This new 5-year fixed debt product retired the almost $18 million in bridge debt they placed on the subject some twelve months prior.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$23,000,000.00

Monthly NOI$153,333.33
Monthly Debt Service$145,375.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00