Continental Partners Provides $5.35M Construction Loan For Panorama City Development Site

A development site located at 14721 Blythe St. in Panorama City has recently closed a loan transaction. The property has a buildable square footage (BSF) of 21,999 and is designated as a development site.

Summary of transaction details

• Property Type: Development Site
• Date: 04/11/2022
• Address: 14721 Blythe St.
• Market: Panorama City
• BSF: 21,999
• Loan Amount: $5,350,000
• Loan Type: Construction
• Loan Terms: 24 Month Construction Loan at 65% Loan to Cost at Prime + 0.50%
• Lender: Continental Partners
• Landlord: Esme Memon
• Broker: Brian Asheghian

The loan transaction was facilitated by Brian Asheghian of Continental Partners as the broker. The loan amount secured for this development site was $5,350,000. The loan type is specifically a construction loan with a duration of 24 months. The loan terms were set at a loan-to-cost ratio of 65% and an interest rate of Prime + 0.50%.