Updated Oct 28, 2024
Velocity Mortgage Provides $2.555M Acquisition Loan For Retail Property On S. Victory Blvd. In Burbank
616 South Victory Boulevard, Burbank, CA 91502
$2,555,000
$318/SF
Building Size
8,020 SF
Asset Type
Retail
Closing
Feb 2, 2022
About this deal
AI
Located at 616 S. Victory Blvd. in Burbank, this retail property spans 8,020 square feet. The acquisition loan for this property was facilitated by Nicole Gozini from Velocity Mortgage. Reuven Risch from George Smith Partners served as the broker representative in this deal.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $2,555,000
- Loan Type: Acquisition
- Loan Terms: 6.49% short term financing, 70% LTV, zero points to lender
- Lender: Velocity Mortgage - Nicole Gozini
- Broker: Reuven Risch - George Smith Partners
Nicole Gozini, as a direct private lender for various asset classes across the nation, provided the loan for this acquisition. Reuven Risch originated the loan and engaged the lender on behalf of his client. For more information, contact Nicole at (310) 295-7177.
Players
Burbank Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Visit George Smith Partners to view all their deals.
Browse California retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.21%
Cash-on-Cash
-1.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93