Updated Mar 11, 2025
East West Bank Provides $59M Loan For Assisted-Living Property In Glendale
509 West Elk Avenue, Glendale, CA 91204, USA
$59,000,000
$2,885/SF
Building Size
20,450 SF
Asset Type
Other
Closing
Jan 29, 2019
About this deal
AI
509-525 West Elk Ave. in Glendale has recently undergone a closed transaction. This property falls under the category of assisted-living and is located in the Glendale market. The transaction took place on January 30, 2019.
Summary of transaction details
- Property Type: Assisted-living
- Transaction Amount: $59M
- Lender: East West Bank
- Landlord: Willis Development
- Loan Terms: 4-yr
- Units: 101
The lender in this transaction was East West Bank, while the landlord was Willis Development. The loan amount granted for this deal was $59 million, with a loan term of 4 years. The property consists of 101 units.
On the Map
$59,000,000
$2,885/SF
Other
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Players
Glendale Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93