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Lee Kleinman Of Business Finance Capital CDC Provides $2.7M Loan For Retail Acquisition In Corona Del Mar

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FINANCED
$2,698,188

California

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Retail2,420 SF
Financed 09/17/2024
the dealdetailscomps
Property Image
FINANCED

Lee Kleinman Of Business Finance Capital CDC Provides $2.7M Loan For Retail Acquisition In Corona Del Mar

3838 Pacific Coast Highway

See Similar Deals
Retail2,420 SF
Financed 09/17/2024

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,115
Total Square Footage:2,420 SF
Transaction Type:Loan

The property asset involved in the transaction is located at 3838 East Coast Highway in the market of Corona del Mar. It is a retail property with a total square footage of 2,420. The acquisition was executed with a loan amount of $2,698,188, which was utilized for owner-user purposes under the SBA 504 program, including financed tenant improvements.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $2,600,000
  • Lender: Lee Kleinman - Business Finance Capital CDC
  • Landlord: Cassiana Marinho
  • Loan Type: Acquisition
  • Loan Terms: Owner-user purchase through the SBA 504 program including financed tenant improvements

The deal highlights Lee Kleinman, representing Business Finance Capital CDC as the lender, facilitating the financial aspects of the transaction. Cassiana Marinho, the landlord, is noted as the property owner directly involved in this asset acquisition.

Details

FINANCED
IMAGE: Lee Kleinman DATE: 09/17/2024 ADDRESS: 3838 East Coast Highway MARKET: Corona del Mar ASSET TYPE: Retail ~ SF: 2,420 LENDER: Lee Kleinman (@Busbnkr) - Business Finance Capital CDC (@BFCFunding) LANDLORD: Cassiana Marinho LOAN AMOUNT: $2,698,188 LOAN TYPE: Acquisition LOAN TERMS: This was an owner-user purchase through the SBA 504 program that included financed tenant improvements. Sales price was $2,600,000.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,698,188.00

Monthly NOI$17,987.92
Monthly Debt Service$17,054.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00