Continental Partners Provides $7.16M Loan For Industrial Property In Carson | 1135 East Artesia Boulevard | Dave Brelian, JM Grimaldi | Industrial | Loan

Summary

Loan

CALIFORNIA

Industrial

40,517 sqft

The recent cash out refinance of a prime owner/user industrial asset located at 1135 East Artesia Boulevard in Carson, CA has been announced. The subject property, used primarily for the processing of low-fat, gluten-free, vegan, and vegetarian entrees, is owned by an operating entity that is one of the first companies to introduce healthy and organic products to the frozen foods sector.

Summary of transaction details:

Property Type: Industrial
Transaction Amount: $7,163,000
Address: 1135 E. Artesia Blvd.
Market: Carson

The new senior loan, provided by Continental Partners, allowed for a cash-out refinance to pay off high-yield 1st and 2nd trust deeds and inject funds back into the business. The 7-year fixed-rate loan is structured at 65% of the property's value and priced at 3.875%. The loan terms include a 6-month interest-only period, followed by a 30-year amortization schedule.

JM Grimaldi and Dave Brelian from Continental Partners represented the deal as brokers.

Players

All
3

Agents
2
Agencies
1

Dave Brelian

Associate

JM Grimaldi

Executive Vice President

Continental Partners

Details

Deal Summary

FINANCED

IMAGE: JM Grimaldi & Dave Brelian DATE: 07/14/2021 ADDRESS: 1135 E. Artesia Blvd. MARKET: Carson ASSET TYPE: Industrial LENDER: Continental Partners (@ContiPartners) LANDLORD: (@CedarlaneFoods) BROKERS: JM Grimaldi (@WatchTog) & Dave Brelian (@DaveBrelian) LOAN AMOUNT: $7,163,000 LOAN TERMS: 7-years fixed at 3.875% - first 6 months IO then amortized over 30-year schedule NOTES: Continental Partners is pleased to announce the recent cash out refinance of a prime owner/user industrial asset located at 1135 East Artesia Boulevard in Carson, CA. The subject property is used primarily for the processing of delicious and convenient low fat, gluten free, vegan and vegetarian entrees. The operating entity is one of first companies to introduce healthy and organic products to the frozen foods sector. The new senior loan was used to pay off a high yield 1st & 2nd trust deeds and allowed for cash out which will be injected back into the business. The 7-year fixed rate loan was structured at 65% of value and priced at 3.875%, with the first 6 months being interest only, then amortizing over a 30-year schedule thereafter.

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Address1135 East Artesia Boulevard

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