Updated Dec 4, 2023
Lee Kleinman's Business Finance Capital CDC Provides $6.6M Loan For Glendale Mixed-use Property
1833 Victory Blvd Glendale, Ca 91201, Usa
$6,615,000
$171/SF
Building Size
38,620 SF
Asset Type
Mixed-use
Closing
May 1, 2023
About this deal
AI
The acquisition loan for the mixed-use property located at 1833-1851 Victory Blvd. in Glendale has been completed. The property, spanning 38,620 square feet, was purchased for a total of $7,350,000. The loan amount secured for this transaction was $6,615,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,350,000
- Loan Amount: $6,615,000
- Loan Type: Acquisition Loan
The lender for this transaction was Lee Kleinman from Business Finance Capital CDC. As an owner-user purchase, the loan utilized the SBA 504 program, where the bank provided a 50% first mortgage and the SBA will provide a 40% second mortgage. Arnou Aghamalian is the landlord of the property.
Players
Los Angeles Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Browse Los Angeles mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93