Lee Kleinman Of Business Finance Capital CDC Provides $5.39M Loan For Retail Construction In Bakersfield

The asset involved in this transaction is a retail property located at the northwest corner of Calloway Drive & Snow Road in the Bakersfield market. The loan amount associated with this construction project is $5,389,000, which is aimed at covering ground-up construction for experienced service station operators.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,389,000
• Lender: Lee Kleinman - Business Finance Capital CDC
• Landlord: Sardar Dulai
• Loan Type: Construction

This transaction involved Lee Kleinman from Business Finance Capital CDC, who lent the funds specifically for a ground-up construction request. The financing structure utilized was the SBA 504 loan, which allows for special purpose financing up to 85% LTV, accommodating the operators' desire to preserve capital for future expansion.