Updated Sep 9, 2024
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
$11,100,000
$711/SF
Building Size
15,597 SF
Asset Type
Retail
Closing
Jul 17, 2022
About this deal
AI
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.
On the Map
$11,100,000
$711/SF
Retail
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Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.43%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93