First Wholesale Lending Inc. Finances $1.76M Loan For Tri-state Community Healthcare In Glendale

Located at 1535 E. Colorado St. in Glendale, this office property spans across 4,295 square feet. The property was recently involved in an acquisition loan transaction.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $1,760,000
• Market: Glendale
• Lender: First Wholesale Lending Inc.
• Landlord: Tri-state Community Healthcare
• Broker: Michael Hendizadeh
• Loan Type: Acquisition
• Loan Terms: 7 Year Fixed - 4.24% with Stepdown Prepay, 80% LTV

The loan, provided by First Wholesale Lending Inc., amounted to $1,760,000. It was an acquisition loan with a fixed term of seven years and an interest rate of 4.24%. The loan also included a stepdown prepayment option, and the loan-to-value ratio was 80%. Michael Hendizadeh acted as the broker in this transaction.

First Wholesale Lending Inc. offered special purpose commercial financing for this non-profit community healthcare center. The center is a Federally Qualified Health Center (FQHC) and a 501(c)(3) organization that receives grant funding from the HRSA Bureau of Primary Health Care under the Health Center Program, as authorized by Section 330 of the Public Health Service Act.