Sunrise Mortgage & Investment Co. Provides $17M Bridge Loan For San Fernando Valley Office Property
FINANCED
$17,000,000
California
See Similar DealsOffice70,868 SF
Financed 08/30/2021
FINANCED
Sunrise Mortgage & Investment Co. Provides $17M Bridge Loan For San Fernando Valley Office Property
11631 Victory Boulevard, North Hollywood, CA, USA
See Similar DealsOffice70,868 SF
Financed 08/30/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$239
Total Square Footage:70,868 SF
Transaction Type:Loan
Located in the San Fernando Valley, the property at 11631 & 11633 Victory Blvd. recently underwent a closed transaction. The office building spans an area of approximately 70,868 square feet, making it a significant asset in the area.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $17,000,000
- Market: San Fernando Valley
- Lender: Sunrise Mortgage & Investment Co. - Correspondent Life Company
This transaction involved a bridge loan, with Sunrise Mortgage & Investment Co. acting as the lender. The loan was set at a fixed interest rate of 6.25% for 3 years, with interest-only payments and a 12-month payment reserve. The loan-to-value (LTV) ratio stood at 62%, providing favorable financing terms for the buyer.
Kamron F. Aghevli, representing Sunrise Mortgage & Investment Co., played a crucial role as the broker in this deal. Their expertise in securing financing options contributed to the successful completion of the transaction.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,000,000.00
Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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