|
|
2/28/17
|
Continental Partners has arranged $19.2 mil in owner-user financing for a 256k sf industrial property located at 709 Science Drive in Moorpark, within the Ventura County market. The financing consists of a $13.7 mil first trust deed from an international portfolio lender along with a $5.5 mil second trust deed.
The borrower, who was moving from a much smaller, 50k sf facility, wanted to own and occupy this industrial building for its operations, although they initially would only occupy about 20% of the building. The company, a manufacturing firm that produces electronic devices, had requested a high loan-to-cost, long-term fixed rate product to finance the acquisition of its new HQ industrial facility.
The first trust deed is a 25-year fixed rate, 60 percent loan-to-cost fully amortized loan priced at 4.53 percent. The second trust deed – funded through a green program that provides small businesses with additional proceeds upon the integration of sustainable upgrades -- is a $5.5 mil, 20-year fully amortized loan which floats until the green energy upgrades are completed. The loans were arranged by Continental Partners’ Zalmi Klyne.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
