FINANCED
North Palisade Partners Secures $31.25 Million Loan For Industrial Construction In Huntington Park
$31,250,000
Building Size
—
Asset Type
—
Closing
Jun 16, 2026
AI
The asset involved in the transaction is an industrial property located at 2501 East 56th Street in Huntington Park. This property encompasses a total square footage of 100,000 and is associated with a loan amount of $31,250,000 designated for construction. The loan terms outline specifications for construction without the requirement for pre-leasing.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $31,250,000
- Loan Type: Construction
- Loan Terms: Spec Construction - No Pre Leasing
- Lender: Thorofare Capital
- Lender's Representative: Andrew Kim
- Landlord: North Palisade Partners
- Landlord's Representative: Joe Maehler
- Broker: Mike Guterman
- Brokerage: Bellwether Enterprise (BWE)
Key individuals in this transaction include Andrew Kim, who represents the lender Thorofare Capital, and Joe Maehler representing the landlord North Palisade Partners. Additionally, Mike Guterman serves as the broker for the deal under Bellwether Enterprise (BWE), highlighting the collaborative effort involved in securing the loan for the property.
Players
Market CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93