Business Finance Capital CDC Provides $4.59M Loan For Burbank Office Building

444, 455, and 461 N. Moss St. in Burbank have been involved in a recent closed property transaction. The property in question is an office building that spans 14,471 square feet and is situated on a 20,236 square foot lot. It was sold for $5,100,000.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $5,100,000
• Loan Amount: $4,590,000
• Lender: Lee Kleinman - Business Finance Capital CDC
• Brokers: Brian Mallasch, Martin Agnew, Ryan Serling, and Chase Cohen

The loan amount secured for this transaction was $4,590,000. The financing structure consisted of a 50% first mortgage from a bank and a 40% second mortgage provided by the Small Business Administration (SBA) through the SBA 504 loan program. The SBA's 2nd mortgage contribution amounts to $1,836,000. It's worth noting that this was an owner user purchase, meaning the buyer intended to occupy the office building themselves.

Lee Kleinman from Business Finance Capital CDC acted as the lender for this transaction. Brian Mallasch, Martin Agnew, Ryan Serling, and Chase Cohen represented the parties involved as brokers.