Ally Commercial Real Estate Secures $11.1M Refinance Loan For Downtown Los Angeles Retail Property

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.