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Sonnenblick-Eichner Company Provides $30 Million Loan For Office Building In Manhattan Beach

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FINANCED
$30,000,000

California

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Office78,540 SF
Financed 06/09/2020
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FINANCED

Sonnenblick-Eichner Company Provides $30 Million Loan For Office Building In Manhattan Beach

1888 Rosecrans Place, Manhattan Beach, CA 90266, USA

See Similar Deals
Office78,540 SF
Financed 06/09/2020
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$382
Total Square Footage:78,540 SF
Transaction Type:Loan

The office property located at 1888 Rosecrans Ave in Manhattan Beach has been involved in a recent loan transaction. The loan was secured from Sonnenblick-Eichner Company, with David N. Sonnenblick, Elliot K. Eichner, and Patrick Brown representing the lending company. The loan amount totaled $30,000,000, and the term of the loan is 10 years. The property spans a total of 78,540 square feet.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $30,000,000
  • Address: 1888 Rosecrans Ave
  • Market: Manhattan Beach

The landlord of the property is Continental Development Corporation, represented by Richard Lundquist. This loan transaction highlights the collaboration between the lender, Sonnenblick-Eichner Company, and the landlord, Continental Development Corporation, in securing the financial resources for the property at 1888 Rosecrans Ave.

Details

FINANCED
IMAGE: Patrick Brown, David N. Sonnenblick, Elliot K. Eichner & Richard Lundquist DATE: 06/09/2021 ADDRESS: 1888 Rosecrans Ave MARKET: Manhattan Beach ASSET TYPE: Office LENDER: Sonnenblick-Eichner Company - David N. Sonnenblick, Elliot K. Eichner & Patrick Brown LANDLORD: Continental Development Corporation - Richard Lundquist LOAN AMOUNT: $30,000,000 SF: 78,540 TERM: 10-year

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00