PROJECT INFO

Refinance of all-cash purchase of NNN-leased property in Glendale, CA; 5yr IO + 5 more yrs IO if value & CF did not decline; fixed for 5yrs w/2,1,1,1,0 prepay but no prepay if sold after 2yrs.

FINANCE AMOUNT

$34,000,000

DESCRIPTION

nonrecourse; 55% As-Is LTV; 1.05x DCR using 25yr amort, 5.50% stress rate; 5yrs IO; no reserves; 2,1,1,1,0 prepay penalty
Glendale, CA
Permanant Financing
Retail
2021