Continental Partners Provides $3.69M Loan For Beverly Hills Office Acquisition
1100 South Beverly Drive
$3,690,000
$515/SF
Building Size
7,160 SF
Asset Type
Office
Closing
Feb 20, 2024
AI
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
Los Angeles Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.30%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93