Genworth Financial Provides $20M Refinance Loan For Office Building In Burbank, Glendale, And Pasadena

The property involved in this closed transaction is an office located at 500 N. Central Ave. It is situated in the markets of Burbank, Glendale, and Pasadena. The loan, brokered by Kamron Aghevli, was secured for a total amount of $20,000,000. The loan type for this transaction is a refinance, with specific terms including a 10-year fixed rate at 3.55%, interest-only payments for the first 3 years, and a 30-year amortization thereafter. The loan is non-recourse, provided by Correspondent Life Company – Genworth Financial.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $20,000,000
• Loan Type: Refinance
• Loan Terms: 10 Yr Fixed @ 3.55%; 3 Yrs Interest Only PMTs & 30 Yr Amortization Thereafter; Non-Recourse
• Broker: Kamron Aghevli - Loan's REP
• Lender: Correspondent Life Company – Genworth Financial

Kamron Aghevli, representing the borrower in this deal, brokered the loan between the borrower and the lender. The transaction was successfully closed, allowing the borrower to refinance the office property, providing favorable terms and financial flexibility for the next decade.