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10565 Copus Road

Faraz Ghadooshahy Of First Financial Capital Provides $20.7M Loan For Bakersfield Retail Acquisition
FINANCEDRetail

Faraz Ghadooshahy Of First Financial Capital Provides $20.7M Loan For Bakersfield Retail Acquisition

10565 Copus Road

$20,700,000

$38/SF

Building Size

543,629 SF

Asset Type

Retail

Closing

Nov 20, 2024

AI

The property asset involved in this transaction is located at 10565 Copus Road in the Bakersfield market. This retail asset spans a total of 543,629 square feet and is part of a larger financing arrangement totaling $20,700,000. The acquisition includes a loan with 100% LTV for acquisition along with an additional $3,200,000 refinance of collateral.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $20,700,000
  • Loan Type: Acquisition
  • Loan Terms: 100% LTV for acquisition + $3,200,000 refinance of additional collateral. No prepayment penalty, renewal fees, or exit fees + 2 free annual renewal options.
  • Lender: Faraz Ghadooshahy - First Financial Capital
  • Landlord: Jackson Singh
  • Date of Transaction: 11/20/2024

The deal was financed in 45 days and involved a $17,500,000 loan for a truck stop and travel center. Notably, the borrower did not put any capital into the deal, indicating a fully leveraged transaction.

Players

First Financial Capital
First Financial CapitalLender

Bakersfield Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.77%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93