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» $3.445MM Industrial Building - CA

Posted by Avatar Financial

The sponsor has sold another property and is utilizing a 1031 exchange in order to purchase this property without having to pay taxes on the profit of the recently sold asset. The current owner will lease the property back for a short period of time. The borrower has leased the building with a five-year term. The property is in a cannabis approved area of Canoga Park and the tenant will utilize the property for packing and distribution of cannabis to retailers.

  • Loan Amount: $3,445,000
  • LTV: 65%
  • Interest Rate: 8.49%
  • Term: 24 months

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