Office Building in Beverly Hills
South Beverly Drive, Beverly Hills, CA, USA
Property Type
Office Building
Length
24 months > Term
Appraised Value
$25,000,000 Appraised Value /
LTV
32%
About this Property
Purchasing this office building in Beverly Hills. I have acquired the land below the building and have now negotiated a deal with the owners of the building as their land lease is expiring in 15 years. The land was purchased for $5mm and the building will be purchased for $8mm. Together they are worth $25mm. I plan to also update the office units inside, as well as add two stories to the building.
Listing Details
- Term: 24 months
- Appraised Value: $25,000,000
- LTV: 32%
- Status: vacant
- Property Type: Office Building
- Purchase Price?: $10,000,000
- Listing Type: SFR
- ARV: $45,000,000
- Pro Forma NOI: $2,150,000
- Building Size: 42,000sqft
- Occupancy: 0%
- Number of Units: n/a
- Date Purchased: 2010
Financials
- Loan Amount: $8,000,000.00
- Estimated Net Worth: n/a
- Estimated Income: n/a
Client Information
- Has the client used private money in the past?: Yes
- Has the client had any banckruptcy in the last 5 years?: No
- Client Background
- The strategy is as follows. The client plans to purchase the building with the capital. Within the 24 months, they will use their own capital to add 2 floors and redevelop the interior of the property. After that time they will Refi/cash out with traditional financing at a valuation estimated at $45mm. Upon the refi, they will repay the loan.
Details
Loan Purpose
- Development
- Purchase
- Value Add
Role
- Developer
Listed by shah
- Profile Status
- Verified
