$1,800,000 Industrial Property

Industrial Property in Phoenix, AZ

Deal Overview

LoanBase successfully secured a $1,800,000 30-year fixed loan to refinance an industrial property in Phoenix.

The Borrower, a veteran real-estate investor, requested a long-term, non-recourse financing. The industrial complex is located in a prominent area of Glendale, a Phoenix suburb, adjacent to a strong retail corridor.
The asset was built in 1972 and made up of a warehouse and a fulfillment center.

Transaction Details

Loan Amount

$1,800,000

Loan to Value

75%

Term

10 years

Prepayment

3,2,1 (flexible)

Rate

3.42%

DCR

1.20x

Amortization

30 years

Recourse

non-recourse