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

Property Image
FINANCED
$4,960,000

California

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Mixed-use31,661 SF
Financed 09/15/2021
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Property Image
FINANCED

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

484 East Los Angeles Avenue, Moorpark, CA 93021, USA

See Similar Deals
Mixed-use31,661 SF
Financed 09/15/2021
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$156
Total Square Footage:31,661 SF
Transaction Type:Loan

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.

Players

Brandon Harris
Black Bear Capital Partners
Brandon Harris
73 deals$1.1B volume
BROKER
Verus CREF
Verus CREF
LENDER

Details

FINANCED
IMAGE: Brandon Harris DATE: 09/15/2021 ADDRESS: 484 East Los Angeles Avenue MARKET: Moorpark ASSET TYPE: Mixed-use ~ SF: 31,661 LENDER: Verus CREF LANDLORD: James Su BROKER: Brandon Harris - @BlackBearCapitalPartners LOAN AMOUNT: $4,960,000 LOAN TYPE: Acquisition LOAN TERMS: The acquisition of the 31,661 SF mixed-use property was financed via a 2-year non-recourse interest-only loan featuring 100% future funding for TI/LC’s and CapEx.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,960,000.00

Monthly NOI$33,066.67
Monthly Debt Service$31,350.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00