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5/31/18
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iBorrow has provided a $17 mil loan on a two-story, 125.8k sf flex/R&D building and an adjacent two-story 20.9k sf office building located in Gardena for a single borrower. The loan was arranged by iBorrow’s Will McCabe.
The property is well-located in terms of transportation access and is in close proximity to Tesla/SpaceX and OSI Systems. The land is zoned M2, which brings the highest and best use of this building.
According to McCabe, the borrower has a very substantial balance sheet, due to recent equity infusion and currently owns the property free and clear. The loan will enable the borrower to support its business objectives to develop and soon initiate production on a line of intelligent, next generation technology.
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