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City National Bank & CDC Small Business Finance Provide $10.4M Acquisition Loan For Glendale Office Property

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FINANCED
$10,385,000

California

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Office24,174 SF
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Property Image
FINANCED

City National Bank & CDC Small Business Finance Provide $10.4M Acquisition Loan For Glendale Office Property

310 East Colorado Street

See Similar Deals
Office24,174 SF
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$429
Total Square Footage:24,174 SF
Transaction Type:Loan

The property asset involved in this transaction is an office located at 310 E. Colorado St., Glendale, with a total square footage of 24,174. The loan amount secured for this property is $10,385,000, categorized under acquisition financing through the SBA 504 program.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $10,385,000
  • Loan Type: Acquisition
  • Loan Terms: Owner-user acquisition financing via SBA 504 program
  • Lender: City National Bank & CDC Small Business Finance
  • Brokers: John Choi & Antonio Hachem - George Smith Partners
  • Date: 04/28/2022

Key individuals involved in the transaction include John Choi and Antonio Hachem, who represented the brokers George Smith Partners in securing the financing for the property. Their representation was crucial in facilitating the acquisition loan through the specified lenders.

Players

Antonio Hachem
7 deals$233M volume(310) 678-4141
BROKER

John Choi
Concord Summit Capital
5 deals$92.8M volume(323) 481-3116
BROKER

George Smith Partners
BROKERAGE

Details

FINANCED
IMAGE: John Choi & Antonio Hachem DATE: 04/28/2022 ADDRESS: 310 E. Colorado St. MARKET: Glendale ASSET TYPE: Office ~ SF: 24,174 LENDER: City National Bank (@CityNationalBank) & CDC Small Business Finance(@CDCLoans) BROKERS: John Choi & Antonio Hachem - George Smith Partners LOAN AMOUNT: $10,385,000 LOAN TYPE: Acquisition LOAN TERMS: Owner-user acquisition financing via SBA 504 program. City National Bank

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,385,000.00

Monthly NOI$69,233.33
Monthly Debt Service$65,640.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00