Los Angeles, California – The Commercial Loans information is from the bustling City of Los Angeles. The UCLA outpatient medical facility in Santa Monica, California is receiving forward financing. This Property is currently under Construction. A Commercial real estate investment banking firm arranged capital for the amount of $38 million. This Commercial Loan is locked in with an attractive fixed of 5.67% for a 10-year loan term. This Commercial Loan financing has been reported to reduce the commercial real estate developer’s risk.
This Commercial Loan collateral had construction begin last July. This Commercial Loan collateral is located at 1223 16th Street, directly across the street from Santa Monica-UCLA Medical Center and Orthopedic Hospital. The UCLA outpatient medical facility will be approximately 49,500 square feet and will be a three-story net leased property. The California medical center development is expected to be completed in December of this year. The Developers and Owners believe they will achieve a LEED Gold certification.
This California NNN Commercial Real Estate development was seen to have difficulty with the commercial loan fitting the foreseen real value of the property. Commercial Mortgage Lenders must be comfortable with the LTV (Loan to Value) of the commercial mortgage. Given the recent history of Commercial Property values, Commercial Mortgage Lenders area careful. This Commercial Loan is secured with a non-recourse loan, although a 10-year term, has a 30 years amortization schedule to help make payments a little easier. That fact that UCLA has an investment-grade AA rating is also preferred when dealing with Commercial Loan borrowers.
This California Commercial Loan collateral was Designed by architect Michael Folonis. The net leased medical building will be designed to appear less like a normal clinical environment to make patients more comfortable. The architect will lush landscape and filtered natural light to achieve this effect on the Structure. The Los Angeles Property used for collateral on the commercial mortgage will have approximately eight operating rooms for outpatient surgery. Also this California Medical Facility will possess two radiation oncology units for cancer treatment, laboratories and medical offices, as well as office space for teaching and medical student training.
This California Commercial Property is pre-leased to the University of California Los Angeles (UCLA). This commercial mortgage collateral will also offer a so-called robotic six-floor subterranean parking garage for Employees, Staff and Patients. Some of the factors which helped the Commercial Mortgage Lender to obtain their comfort level was the Commercial Property’s fantastic location, UCLA’s 30-year net lease term, and several special purpose improvements, including the parking income coming from the developer’s unique and innovative robotic parking structure.
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