Updated Oct 29, 2024
CTL Capital Provides $276M Construction Loan For NFL Training Facility In El Segundo
El Segundo, California, United States
$276,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Mar 30, 2022
About this deal
AI
The loan for the development of a new training facility for the NFL's Los Angeles Chargers in El Segundo has been secured. The financing, totaling $276,000,000, will be provided by CTL Capital. The project will be overseen by the landlord, Continental Development Corporation, led by Richard Lundquist and Mar Ventures. The deal was facilitated by Sonnenblick-Eichner Company, acting as the broker.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $276,000,000
- Market: El Segundo
- Asset Type: Mixed-use
- Acres: 14
The loan obtained from CTL Capital will be utilized for the construction of the new training facility for the NFL's Los Angeles Chargers. Richard Lundquist's Continental Development Corporation, along with Mar Ventures, will act as the landlord overseeing the development. Sonnenblick-Eichner Company played a crucial role as the broker in facilitating this transaction.
On the Map
$276,000,000
Mixed-use
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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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93