Updated Oct 29, 2024
Shatar Capital Inc. Provides $1.35M Cash-Out Bridge Loan For Industrial Portfolio In Central Alameda
900 East 61st Street
$1,350,000
$24/SF
Building Size
55,000 SF
Asset Type
Industrial
Closing
Jul 1, 2019
About this deal
AI
The industrial property at 900-910 E 61st St, LA, CA 90001 & 642-704 E 62nd St, LA, CA 90001 in the Central Alameda market has been involved in a closed transaction. The loan amount for this property was $1,350,000, and it covers a total of 55,000 square feet. The 2nd position on the industrial portfolio was secured through a cash-out bridge loan that offers interest-only payment terms. The deal was closed in just one week.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,350,000
- Address: 900-910 E 61st St, LA, CA 90001 & 642-704 E 62nd St, LA, CA 90001
- Market: Central Alameda
- Lender: Shatar Capital Inc.
- Brokers: Daniel Namvar
- Square Footage: 55,000
The loan for this industrial property was provided by Shatar Capital Inc., and Daniel Namvar from the brokerage firm represented the parties involved in the deal.
Players
Los Angeles 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
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93