Single Tenant Office
Los Angeles, CA
$3,900,000 Take-Out Loan for an Industrial Headquarters and Plant Leased to an Unrated Single-Tenant. Owner completed an expansion and upgrade of the 42-year old project in Los Angeles County. Unrelated tenant had been sole tenant for this period and had signed a 15-year extension upon completion of the expansion. Tenant is a small public firm with no rated debt and a volatile earnings track record. Obtained a 15-year fixed rate loan.