Bank acquisition loan for 60% vacant 13,000 SF retail strip center to convert to creative office.
Finance Amount: $4,410,000
70% LTV; 1.2x Proforma DCR; 5 Yr Term, 25 Yr Am; 1 Yr I/O; No prepay.
Location: Culver City, CA
Deal Type: Value Add Financing
Property Type: Office, Retail