Posted April 26, 2013 at 11:43am
Posted August 27, 2012 at 5:12pm in life sightings style entertainment music pulse endorsements portfolio
CFG Arranges Financing on 74,000 SF Office Property in West LA, CA
Los Angeles, CA, March 30, 2012 – Continental Funding Group (CFG), a Los Angeles-based commercial real estate investment banking firm, successfully placed the refinance of a 74,000 SF multi-tenant office property (The Gardens) in West Los Angeles, California. J.M. Grimaldi, Director of CFG, and Eric Hamermesh, Senior Vice President of George Smith Partners, co-brokered the transaction.
The Gardens is a three-story courtyard office complex located at 2001 South Barrington Avenue, just North of Olympic Boulevard. Tenant and guest parking is provided by an adjacent 62,000 SF four-level structure with an estimated parking ratio at 2.6/1000 SF of building.
Commenting on the transaction, Grimaldi said, “Our diligent underwriting on the frontend of the transaction and firm understanding of our client’s financial objectives enabled us to achieve a debt structure that exceeded everyone’s expectations.” He added that, “We were able to adhere to the client’s deadlines and structure the transaction so that the sponsor didn’t have to come up with any extra cash.”
Built in 1978, The Gardens sits in the midst of some of the wealthiest neighborhoods in the nation, where demand for space has historically been strong. Many professional practices and high-margin firms in finance sectors, software, entertainment and digital media traditionally seek out available space though current occupancy is at 100%.
Continental Funding Group, founded in 2006, is a leading commercial real estate investment banker providing capital markets insight and creative financing strategies tailored to suit the needs of its clients and the unique characteristics of their properties.
Continental Funding Places $6.6 Mil on SF Valley B of A Property
Check out my feature @wwwRENTVcom
$6,600,000 Refinance of Prime Single-Tenant Bank of America in Studio City, CA
Studio City, California, December 28, 2011 – Los Angeles based commercial real estate investment banking firm Continental Funding Group (CFG) successfully placed $6.6 million in permanent refinancing, according to Director J.M. Grimaldi, who led the loan origination process for CFG.
“The subject property sits on an extremely high trafficked part of Ventura Boulevard where occupancy and rental rates exceed the submarket. Many of our Lenders jumped at the financing opportunity enabling us to facilitate a competitive bidding environment for our Sponsor,” says Grimaldi. “We were able to secure ideal terms in a market that many still perceive as vulnerable.”
The loan is fixed at 4.60 percent for five years and amortized over 30 years. The loan-to-value is 54 percent.
CFG is a leading commercial real estate investment banker providing capital markets insight and creative financing strategies tailored to suit the needs of its clients and the unique characteristics of their properties. The relationships with insurance companies, investment banks, foreign and domestic banks, agencies and pension funds give CFG unparalleled access to capital and the most reliable executions for each engagement.
