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