FINANCED
Lee Kleinman Secures $10.08M Loan For Paved Parking Lots In Downtown Los Angeles
1149-1151 S. Hope St.
Mixed-use
15,395 SF
15,395 SF
Financed 1 year ago
Summary
Loan
CALIFORNIA
Mixed-use
15,395 sqft
Located in Downtown Los Angeles, the property at 1149-1151 S. Hope St. consists of two paved parking lots with a total square footage of 15,395. The property was recently involved in a closed transaction.
Summary of transaction details:
- Property Type: Paved Parking Lots
- Transaction Amount: $11,200,000
The acquisition loan for this transaction was provided by Lee Kleinman - Business Finance Capital CDC. The loan amount was $10,080,000, and it was obtained through the SBA 504 program. The program involves a 50% first mortgage from the bank and a 40% second mortgage from the SBA/CDC. The loan will be used to refinance the seller carryback notes.
The landlords of the property are Allen Patatanyan and Neama Rahmani. The transaction involved the purchase of the parking lots for client and employee parking purposes.
Players
All
1
Lenders
1
Details
FINANCED
IMAGE: Lee Kleinman
DATE: 03/29/2023
ADDRESS: 1149-1151 S. Hope St.
MARKET: Downtown Los Angeles
ASSET TYPE: Paved Parking Lots ~ SF: 15,395
LENDER: Lee Kleinman (@Busbnkr) - Business Finance Capital CDC (@BFCFunding)
LANDLORD: Allen Patatanyan And Neama Rahmani
LOAN AMOUNT: $10,080,000
LOAN TYPE: Acquisition Loan
LOAN TERMS: This was an owner-user purchase through the SBA 504 program where the bank will provide a 50% 1st mortgage and the SBA/CDC will provide a 40% 2nd mortgage which will be used to refinance the seller carryback notes. These two paved parking lots will be used for client/employee parking and traded for $11,200,000.View on map
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Address1149-1151 S. Hope St.
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