Updated Oct 29, 2024
GRMD, LLC Acquires Office In Studio City With $4.725M SBA 504 Purchase
3959 Laurel Canyon Blvd, Studio City, CA 91604, USA
$4,725,000
$46/SF
Building Size
102,000 SF
Asset Type
Office
Closing
May 25, 2020
About this deal
AI
Located at 3959 Laurel Canyon Blvd in Studio City, this office property was recently involved in a closed transaction. The property spans 10,200 square feet and is situated in a prime market. The deal was facilitated by Lee Kleinman, a broker representing the buyer.
Summary of Transaction Details:
- Property Type: Office
- Purchase Price: $4,725,000
- Loan Amount: $4,725,000
- Loan Terms: 10% Down – SBA 504 Purchase
- Lender: Business Finance Capital CDC
- Landlord: GRMD, LLC
This was an SBA 504 owner user purchase, and the buyer secured a loan from Business Finance Capital CDC for the entire purchase amount. The transaction involved a down payment of 10% and the loan terms were set as an SBA 504 purchase. The landlord in this deal was GRMD, LLC.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.36%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93