Industrial cash-out refi in Vernon, CA

 

Distribution Warehouse & Cement Plant

City of Vernon, CA

 

  • 18,000,000
  • $4.5MM cash out to sponsor after purchasing in 2011
  • 5 year term / 30 year amortization
  • Aggressive underwriting & appraisal with only a 1.17x dscr & 4.5% cap rate
  • Warehouse tenant not in occupancy
  • 12+ acres inclusive of 100,000 sf. distribution warehouse, cement plant, and pallet warehouse
  • Superior location at 27th & Alameda
  • Funding Source: Private east coast relationship lender