Cathay Bank Provides $7.5M Construction Loan For Retail Property In Whittier
FINANCED
$7,500,000
California
See Similar DealsRetail150,282 SF
Financed 05/03/2022
FINANCED
Cathay Bank Provides $7.5M Construction Loan For Retail Property In Whittier
13541 Telegraph Road, Whittier, California 90605, United States
See Similar DealsRetail150,282 SF
Financed 05/03/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$49
Total Square Footage:150,282 SF
Transaction Type:Loan
The retail property located at 13541 Telegraph Rd in Whittier was involved in a recent closed transaction. The property spans a total of 150,282 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,500,000
- Market: Whittier
The lender in this transaction was Cathay Bank. The loan obtained for this deal amounted to $7,500,000 and was of the construction type. Marcus & Millichap Capital Corporation represented the two brokers involved in the deal, Stefen Chraghchian and Sharone Sabar.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,500,000.00
Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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