Updated Dec 26, 2024
Shawbrook Inc Secures $8.45 Million Refinance Loan For Medical Building In Glendale, California
$8,450,000
$53/SF
Building Size
158,252 SF
Asset Type
Office
Closing
Dec 19, 2024
About this deal
AI
The asset involved in this transaction is an office property spanning 39,563 square feet. The loan amount associated with this property is $8,450,000, and it serves as a refinance transaction. The markets involved include Glendale, Torrance, Irvine, and Corona.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $8,450,000
- Loan Type: Refinance
- Brokers: Tim Moaeed, Daniel Zand & Matthew Roton - Shawbrook Inc
- Asset Size: 39,563 SF
- Market: Glendale, Torrance, Irvine & Corona
This transaction was completed in 7 days with no appraisal required. The note from the broker indicates that Shawbrook Capital is funding private purchase, refinance, cash-out, and second position loans with no appraisal in California for both residential and commercial properties.
Players
Market 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
1.88%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93