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First Citizens Bank Provides $3.8M Loan For Community Facility On Empress Ave

Property Image
FINANCED
$3,800,000
Yaakov Zar
Uri Pearl

California

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Other4,008 SF
Financed 08/20/2020
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Property Image
FINANCED

First Citizens Bank Provides $3.8M Loan For Community Facility On Empress Ave

4346 Empress Ave, Encino, CA 91436, USA

See Similar Deals
Other4,008 SF
Financed 08/20/2020
Yaakov Zar
Uri Pearl
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Other
Price Per Square Foot:$948
Total Square Footage:4,008 SF
Transaction Type:Loan

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

Uri Pearl
Lev
Uri Pearl
2 deals$7M volume
BROKER
Yaakov Zar
Lev
Yaakov Zar
34 deals$189.3M volume
BROKER
First Citizens Bank
First Citizens Bank
LENDER
First Citizens Bank
First Citizens Bank
LENDER

Details

FINANCED
IMAGE: Uri Pearl (@UPearl23) & Yaakov Zar (@YJZar) DATE: 08/20/2020 ADDRESS: 4346 Empress Ave, Iron Canyon Rd., 17400 Magnolia Blvd ASSET TYPE: Community Facility LENDER: First Citizens Bank BROKERS: Uri Pearl, Yaakov Zar @LevCapital LOAN AMOUNT: $3,800,000 LOAN TERMS: 7 year fixed rate at 2.95% NOTES: Cash-out refinance for a portfolio of youth rehabilitation […]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,800,000.00

Monthly NOI$25,333.33
Monthly Debt Service$24,018.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00