Updated Dec 19, 2023
Lee Kleinman's Business Finance Capital CDC Provides $5.9M Acquisition Loan For Calabasas Office Building
24005 Ventura Boulevard
$5,895,000
$267/SF
Building Size
22,046 SF
Asset Type
Office
Closing
Aug 15, 2022
About this deal
AI
The property involved in this closed transaction is an office building located at 24005 Ventura Blvd. Bldg. A in Calabasas, CA. The building has a total area of 22,046 square feet and is situated on a 41,991 square foot lot. The transaction took place on August 15, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,550,000
- Loan Amount: $5,895,000
- Loan Type: Acquisition
- Lender: Lee Kleinman - Business Finance Capital CDC
- Landlord: Danone Simpson
- Broker: Lee Kleinman
This transaction involved an owner user purchase through the SBA 504 loan program. The bank financed 50% of the project as a first mortgage, while the SBA provided financing for 40% as a second mortgage. The loan amount for this transaction was $5,895,000.
It's important to note that the property traded for $6,550,000, and the building's square footage and lot size were mentioned in the first paragraph.
Players
Calabasas 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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93