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Business Finance Capital CDC Provides $3.06M Loan For Sherman Oaks Retail Property

Property Image
FINANCED
$3,060,000

California

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Retail7,440 SF
Financed 05/12/2023
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Property Image
FINANCED

Business Finance Capital CDC Provides $3.06M Loan For Sherman Oaks Retail Property

13960 Ventura Blvd Sherman Oaks, CA 91423, USA

See Similar Deals
Retail7,440 SF
Financed 05/12/2023
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$411
Total Square Footage:7,440 SF
Transaction Type:Loan

A retail property located at 13960 Ventura Blvd in Sherman Oaks/SFV has been sold in a closed transaction. The property spans 7,440 square feet and was acquired for $3,400,000.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $3,400,000
  • Loan Amount: $3,060,000
  • Loan Type: Acquisition Loan

The lender involved in this transaction was Lee Kleinman from Business Finance Capital CDC. The landlord of the property is Antranik Kopalian. The broker who represented the parties in this deal was Dean Cutler from Illi Commercial Real Estate.

Players

Dean Cutler
illi Commercial Real Estate
Dean Cutler
1 deal$3.1M volume
BROKER
Business Finance Capital
Business Finance Capital
LENDER

Details

FINANCED
IMAGE: Lee Kleinman & Dean Cutler DATE: 05/12/2023 ADDRESS: 13960 Ventura Blvd MARKET: Sherman Oaks/SFV ASSET TYPE: Retail ~ SF: 7,440 LENDER: Lee Kleinman (@Busbnkr) - Business Finance Capital CDC (@BFCFunding) LANDLORD: Antranik Kopalian BROKER: Dean Cutler - Illi Commercial Real Estate (@Illicommercial) LOAN AMOUNT: $3,060,000 LOAN TYPE: Acquisition Loan LOAN TERMS: This was an owner-user purchase through the SBA 504 program where the bank provided a 50% 1st mortgage and the SBA will provide a 40% 2nd mortgage. This retail property is 6,827 SF situated on a 7,440 SF lot and traded for $3,400,000.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,060,000.00

Monthly NOI$20,400.00
Monthly Debt Service$19,341.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00