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Lee Kleinman & Andrew Berk Secure $5.76M Loan For Industrial Property In Chatsworth

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FINANCED
$5,760,000

California

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Industrial19,763 SF
Financed 06/28/2022
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Property Image
FINANCED

Lee Kleinman & Andrew Berk Secure $5.76M Loan For Industrial Property In Chatsworth

9200 Eton Avenue

See Similar Deals
Industrial19,763 SF
Financed 06/28/2022
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$291
Total Square Footage:19,763 SF
Transaction Type:Loan

A loan was obtained for an industrial property located at 9200 Eton Ave in Chatsworth. The property is 19,763 square feet and was acquired by the borrower for $6,400,000. The loan amount secured for this acquisition was $5,760,000.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $6,400,000
  • Loan Amount: $5,760,000

The lender for this transaction was Lee Kleinman from Business Finance Capital CDC. The loan was obtained through the SBA 504 loan program, with the bank financing 50% of the project as a first mortgage and the SBA providing 40% as a second mortgage. Gita Kronen is the landlord of the property. Andrew Berk from Avison Young represented the borrower as the broker in this deal.

Players

Andrew Berk
Avison Young
Andrew Berk
8 deals$52.2M volume
BROKER
Business Finance Capital
Business Finance Capital
LENDER

Details

FINANCED
IMAGE: Lee Kleinman & Andrew Berk DATE: 06/28/2022 ADDRESS: 9200 Eton Ave. MARKET: Chatsworth ASSET TYPE: Industrial ~ SF: 19,763 LENDER: Lee Kleinman (@Busbnkr) - Business Finance Capital CDC LANDLORD: Gita Kronen BROKER: Andrew Berk (@Getberk1950 & @Avison_Young_Global) - Avison Young LOAN AMOUNT: $5,760,000 LOAN TYPE: Acquisition LOAN TERMS: This was an owner user purchase through the SBA 504 loan program. 50% of the project was financed by the bank as a 1st mortgage and the SBA will finance 40% as a 2nd mortgage. The building is 19,763 SF situated on a 40,495 SF lot and traded for $6,400,000.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,760,000.00

Monthly NOI$38,400.00
Monthly Debt Service$36,407.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00