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Continental Partners Provides $3.69M Loan For Beverly Hills Office Acquisition

Property Image
FINANCED
$3,690,000

California

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Office7,160 SF
Financed 02/20/2024
the dealplayerscompscontact
Property Image
FINANCED

Continental Partners Provides $3.69M Loan For Beverly Hills Office Acquisition

1100 South Beverly Drive

See Similar Deals
Office7,160 SF
Financed 02/20/2024
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$515
Total Square Footage:7,160 SF
Transaction Type:Loan

The office property located at 1100 South Beverly Drive in Beverly Hills spans 7,160 square feet and was involved in an acquisition loan totaling $3,690,000. The loan was structured at 90% of the purchase price between 1st and 2nd trust deeds, with a fixed term of 25 years.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $3,690,000
  • Market: Beverly Hills
  • Lender: Continental Partners
  • Landlord: Ardy Pirnia - Pirnia Law Group

The loan for the office property was secured with the expertise of JM Grimaldi from Continental Partners, who represented the lender in the deal.

Players

JM Grimaldi
Continental Partners
JM Grimaldi
22 deals$186M volume(323) 330-6110
BROKER
Continental Partners
Continental Partners
LENDER

Details

FINANCED
IMAGE: JM Grimaldi & Ardy Pirnia DATE: 02/20/2024 ADDRESS: 1100 South Beverly Drive MARKET: Beverly Hills ASSET TYPE: Office ~ SF: 7,160 LENDER: Continental Partners (@ContiPartners) LANDLORD: Ardy Pirnia (@Uncle.Ardy) - Pirnia Law Group (@PirniaLawGroup) LENDER'S REP: JM Grimaldi (@Watchtog) - Continental Partners LOAN AMOUNT: $3,690,000 LOAN TYPE: Acquisition Loan LOAN TERMS: 25 years fixed @ 90% LTPP NOTE FROM LENDER'S REP: Loan proceeds were structured at 90% of purchase price between 1st and 2nd trust deeds. Both loans are fixed for 25 years with the 1st trust deed priced at 6.78% and the 2nd at 6.381%.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,690,000.00

Monthly NOI$24,600.00
Monthly Debt Service$23,323.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00