First Citizens Bank Provides $3.8M Loan For Community Facility On Empress Ave
4346 Empress Ave, Encino, CA 91436, USA
$3,800,000
$948/SF
Building Size
4,008 SF
Asset Type
Other
Closing
Aug 19, 2020
AI
A cash-out refinance loan in the amount of $3,800,000 was secured for a portfolio of youth rehabilitation facilities located at 4346 Empress Ave, Iron Canyon Rd., and 17400 Magnolia Blvd. The loan was provided by First Citizens Bank at a 2.95% fixed interest rate for a term of 7 years.
Summary of transaction details
- Property Type: Community Facility
- Loan Amount: $3,800,000
- Lender: First Citizens Bank
- Brokers: Uri Pearl, Yaakov Zar from LevCapital
Uri Pearl and Yaakov Zar from LevCapital represented the parties involved in the loan deal.
Players
Los Angeles Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93