Bandon Capital Advisors Refinances Golf Course In La Cañada Flintridge For $2M
5500 Godbey Drive
$2,000,000
$76/SF
Building Size
26,043 SF
Asset Type
Land
Closing
Oct 20, 2023
AI
The asset involved in this transaction is a golf course located at 5500 Godbey Drive in La Cañada Flintridge, featuring a total square footage of 26,043. The loan amount for the property is $2,000,000, and this transaction is classified as a refinance with fixed loan terms of 7.375%, structured over a 5+5 year term with a 25-year amortization period.
Summary of transaction details:
- Property Type: Golf Course
- Transaction Amount: $2,000,000
- Lender: Correspondent Lender - Bandon Capital Advisors, Inc. - Kamron F. Aghevli
- Landlord: Evelyn Dreyfuss
- Loan Type: Refinance
- Loan Terms: 7.375% Fixed; 5+5 Year Term; 25 Year Amortization
Kamron F. Aghevli represents Bandon Capital Advisors, Inc. in the lending aspect of this refinance deal, while the landlord, Evelyn Dreyfuss, is involved in the ownership of the golf course asset. This arrangement highlights the key roles of the individuals and firms participating in this financial transaction.
Players
La Canada Flintridge Land Market Snapshot
Boundary boundary · Land · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93