Ally Commercial Real Estate Secures $11.1M Refinance Loan For Downtown Los Angeles Retail Property
FINANCED
$11,100,000
California
See Similar DealsRetail15,597 SF
Financed 07/18/2022
FINANCED
Ally Commercial Real Estate Secures $11.1M Refinance Loan For Downtown Los Angeles Retail Property
735 East 12th Street, Los Angeles, California 90021, United States
See Similar DealsRetail15,597 SF
Financed 07/18/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$711
Total Square Footage:15,597 SF
Transaction Type:Loan
An $11,100,000 refinance loan has been secured for a retail property located at 735 E. 12th St in Downtown Los Angeles. The property spans 15,597 square feet and is represented by broker Trevor Damyan from Ally Commercial Real Estate.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,100,000
- Loan Type: Refinance
- Loan Terms: 70% LTV, Interest Only followed by 24 year am., 10 year term, 1.20 DSCR
This refinance loan allows the property owner to take advantage of favorable market conditions and potentially lower interest rates. The loan terms include a 70% loan-to-value ratio and interest-only payments for a certain period, followed by a 24-year amortization schedule. The loan has a 10-year term and a 1.20 debt service coverage ratio.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,100,000.00
Monthly NOI$74,000.00
Monthly Debt Service$70,159.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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