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California Loan Servicing (CLS) Refinances Los Angeles Office Building With $19.5M Loan

Property Image
FINANCED
$19,500,000
Trevor Damyan
Melvin Maghari Jr
Ryan Bunting

California

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Office140,000 SF
Financed 09/14/2023
the dealplayerscompscontact
Property Image
FINANCED

California Loan Servicing (CLS) Refinances Los Angeles Office Building With $19.5M Loan

Office140,000 SF
Financed 09/14/2023
Trevor Damyan
Melvin Maghari Jr
Ryan Bunting
the dealplayerscompscontact
Contact now

Summary

Asset Type:Office
Price Per Square Foot:$139
Total Square Footage:140,000 SF
Transaction Type:Loan

An office property located in Los Angeles has recently undergone a refinancing transaction. The property spans approximately 140,000 square feet and is represented by Melvin Maghari Jr, Ryan Bunting & Trevor Damyan from California Loan Servicing (CLS).

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $19,500,000

The loan amount for this refinancing deal is $19,500,000. The loan terms include a 50% loan-to-value ratio and an 18-month interest-only period. Following the interest-only period, the loan will be amortized over 30 years with a fixed interest rate of 7.02%. The interest rate was locked at the time of application.

Note: No additional information was provided regarding the specific property address or market value.

Players

Trevor Damyan
CLS | CRE
Trevor Damyan
13 deals$207M volume
BROKER
Melvin Maghari Jr
CLS | CRE
Melvin Maghari Jr
3 deals$63.3M volume
BROKER
Ryan Bunting
CLS | CRE
Ryan Bunting
3 deals$63.3M volume
BROKER

Details

FINANCED
IMAGE: Melvin Maghari Jr, Trevor Damyan & Ryan Bunting DATE: 09/14/2023 MARKET: Los Angeles ASSET TYPE: Office ~ SF: 140,000 BROKER: Melvin Maghari Jr, Ryan Bunting & Trevor Damyan (@hoteltowelwaster) - California Loan Servicing (CLS) LOAN AMOUNT: $19,500,000 LOAN TYPE: Refinance LOAN TERMS: 50% LTV, 18-months Interest only followed by 30 year am., fixed rate of 7.02%, locked at application

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$19,500,000.00

Monthly NOI$130,000.00
Monthly Debt Service$123,253.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00