Business Finance Capital CDC Provides $12.87M Acquisition Loan For Mixed-Use Property In North Hollywood

Lee Kleinman of Business Finance Capital CDC facilitated a loan for the acquisition of a mixed-use property in North Hollywood. The property, located at 5446-5450 Satsuma Ave, spans a total of 37,600 square feet and consists of four buildings across five parcels. The transaction was completed on May 19, 2022.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $14,300,000
• Loan Amount: $12,870,000
• Loan Type: Acquisition
• Loan Terms: The owner-user purchase was financed through the SBA 504 loan program. The bank provided 50% of the project's financing as a first mortgage, while the SBA financed 40% as a second mortgage.
• Lender: Business Finance Capital CDC
• Landlord: Tara Razavi
• Broker: Lee Kleinman - Business Finance Capital CDC

The loan facilitated by Lee Kleinman on behalf of Business Finance Capital CDC allowed for the successful acquisition of the property. The SBA 504 loan program was utilized to fund 40% of the purchase as a second mortgage, with the remaining 50% financed by the bank as a first mortgage. Tara Razavi, the landlord, played a key role in the transaction as the property owner. Overall, the acquisition involved multiple parties working together to complete the deal.