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
Bakersfield Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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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