Newly Constructed Industrial/Flex Building

 In RECENT TRANSACTIONS

Hollywood

Lone Oak Fund just closed a $1,800,000 first trust deed secured by a newly constructed industrial/flex building located near Paramount Pictures in Hollywood. The Borrower purchased the property as a tear down in 2007, began construction in 2009, and completed construction in 2013. The property is currently leased to a food distributor/caterer. The Borrower came to Lone Oak to pay off the existing construction debt and allow for seasoning of the existing lease. The Borrower will refinance with a conventional lender within 12 months.

Loan Amount:$1,800,000
Transaction:Refinance
LTV:50%
Collateral:9,500 square foot newly constructed industrial/flex building on a 6,500 square foot lot
Term:12 months
Rate:8.30% interest only
Origination Fee:1.50 points
Broker Commission:$18,000

 

 

 

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