Gevik Baghdassarian Secures $3.56M Acquisition Loan For Pasadena Retail Property

The property asset involved in this transaction is located at 44 North Lake Avenue & 908 Boston Court in the Pasadena market. It is classified as retail with a total square footage of 2,080. The building was acquired for $3,400,000, with $525,120 allocated for financed tenant improvements, and the down payment constituted 10% of the total project costs.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,400,000
• Loan Amount: $3,559,529
• Loan Type: Acquisition
• Loan Term: Owner user purchase through the SBA 504 program
• Landlord: Gevik Baghdassarian
• Lender: Lee Kleinman - Business Finance Capital CDC

This transaction was facilitated by Gevik Baghdassarian as the landlord and Lee Kleinman representing Business Finance Capital CDC as the lender. The deal involved a multi-location restauranteur utilizing the SBA 504 program for expansion.