Citizens Business Bank Provides $5.9M Loan For Santa Monica Blvd Office Property

Located at 6201 Santa Monica Blvd, this office property has recently been involved in a closed transaction. The property, owned by Jack Khorsandi, attracted the attention of various parties in the real estate market.

Summary of transaction details

• Property Type: Office
• Date: 09/09/2020
• Loan Amount: $5,900,000
• Loan Terms: 7 year fixed, 10 year term, 3.70% interest rate, 25-year amortization, Stepdown Prepay

Acting as the lender in this transaction, Citizens Business Bank provided a loan of $5,900,000. The loan terms include a 7-year fixed period, a 10-year overall term, a 3.70% interest rate, a 25-year amortization schedule, and Stepdown Prepay. This financing arrangement facilitated the completion of the transaction.

Matthew Bucaro, representing Tauro Capital Advisors, played a key role as the broker in this deal. His expertise in navigating real estate transactions added value to the negotiation process.