Banc Of Californa Provides $7.65M Refinance Loan For Retail Property On N Vermont Ave - PSRS Acts As The Broker | 1000 North Vermont Avenue | Banc Of California | William DeFanti | Retail | Loan

Summary

Loan

CALIFORNIA

Retail

21,890 sqft

The subject property is a two-story walk-up retail center located at 1000 N Vermont Ave in Los Angeles. It spans 21,890 square feet and consists of 17 units. The property was recently involved in a loan transaction.

Summary of transaction details:

Property Type: Retail
Loan Amount: $7,650,000

The lender for this transaction was Banc of California. The loan was a refinance loan with a 4.45% interest rate. The terms of the loan included a 5-year loan term, with the first 2 years being interest-only, followed by a 30-year amortization period.

The broker involved in this transaction was William DeFanti from PSRS. PSRS provided its borrower with a 4.45% interest rate loan, allowing for a longer-term amortization to maximize loan dollars in the current market environment. For more information, you can contact William DeFanti at [email protected] or (310) 471-1945.

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William DeFanti

PSRS- Pacific Southwest Realty Services-image

Vice President

PSRS- Pacific Southwest Realty Services

Banc Of California

Details

Deal Summary

FINANCED

IMAGE: William DeFanti DATE: 08/18/2022 ADDRESS: 1000 N Vermont Ave MARKET: Los Angeles ASSET TYPE: Retail ~ SF: 21,890 LENDER: Banc of Californa BROKER: William DeFanti - PSRS LOAN AMOUNT: $7,650,000 LOAN TYPE: Refinance LOAN TERMS: 4.45% Interest Rate; 5-year loan term started by 2 years of Interest Only; 30-year Amortization NOTE FROM BROKER: The subject property is a two-story walk-up retail center containing 17 units. Financed with perm execution, PSRS provided its borrower a 4.45%, five-year term started by two years of interest-only followed by a 30-year amortization. The amortization was helpful and necessary to get maximum loan dollars in the tight cap rate and rising rate environment we’re in today. Contact Information: [email protected] | (310) 471-1945

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Address1000 North Vermont Avenue

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