Verus CREF Provides $4.96M Acquisition Loan For Mixed-Use Property In Moorpark

The acquisition of a mixed-use property located at 484 East Los Angeles Avenue in Moorpark has been financed through a $4,960,000 loan. The property spans 31,661 square feet and features a combination of residential and commercial units. The loan was provided by Verus CREF, and it was obtained for the purpose of acquiring the property.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $4,960,000
• Address: 484 East Los Angeles Avenue, Moorpark
• Market: Moorpark
• Asset Size: 31,661 SF

The loan for the acquisition of the 31,661 SF mixed-use property was secured through Verus CREF, serving as the lender. The landlord in this transaction is James Su. The broker involved in the deal is Brandon Harris from BlackBearCapitalPartners. The loan terms include a 2-year non-recourse interest-only loan, which provides 100% future funding for tenant improvements, leasing commissions, and capital expenditures.