Updated Oct 29, 2024
Rialto Mortgage Finance Provides $55M Loan For Mixed-Use Property In El Segundo
831 South Douglas Street
$55,000,000
$267/SF
Building Size
206,000 SF
Asset Type
Mixed-use
Closing
Nov 5, 2019
About this deal
AI
A loan in the amount of $55,000,000 has been secured for the property located at 2201, 2221, and 2231 Rosecrans Avenue & 831 S. Douglas Street in El Segundo. The asset is a mixed-use property with a total square footage of 206,000. The loan has a term of 10 years with a fixed interest rate of 3.34%, provided by Rialto Mortgage Finance.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $55,000,000
- Address: 2201, 2221, and 2231 Rosecrans Avenue & 831 S. Douglas Street, El Segundo
- Market: El Segundo
- Lender: Rialto Mortgage Finance
- Landlord: Continental Development Corp.
- Brokers: Sonnenblick-Eichner
- Loan Terms: 10-year, fixed-rate, 3.34% interest rate
- Square Footage: 206,000
Sonnenblick-Eichner represented the parties involved in this loan transaction.
Players
El Segundo Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93