Updated Oct 29, 2024
Trimax Realty & Loan Secures $1.2M Loan For Legal Cannabis Cultivation Facility
8787 Mendiburu Roadd
$1,200,000
$40/SF
Building Size
30,000 SF
Asset Type
Industrial
Closing
Mar 2, 2023
About this deal
AI
A legal cannabis cultivation facility located at 8787 Mendiburu Rd in California City has secured financing through Trimax Realty & Loan. The facility spans 30,000 square feet and is an industrial property. The loan amount for this transaction is $1,200,000, and it falls under the category of recapitalization. The borrower, Regal Remedies, has obtained a favorable rate and terms for the loan provided by FFFS Inc. represented by James Williams.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,200,000
- Address: 8787 Mendiburu Rd.
- Market: California City
- Loan Type: Recapitalization
- Lender: FFFS Inc. - James Williams
- Landlord: Regal Remedies - Donald Band
- Brokers: Fred Nabati & Michael Davoodpour - Trimax Realty; Trimax Loan; Trimax Realty & Loan
Trimax Realty & Loan successfully managed to address multiple mezzanine loans and title issues associated with this loan. They coordinated the subordination of three other junior liens to facilitate a timely closing. The client expresses satisfaction with the favorable rate and terms offered by the lender. For assistance with challenging deals, you can reach Trimax Realty & Loan at (424) 222-9456 (Call/Text) or visit their website at www.trimaxla.com.
Players
California City 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93