Clive Wilkinson Architects - Culver City, CA
Sequoia Commercial has closed the refinance of a 7,000 SF owner-user office building on Washington Blvd. in Culver City, CA. A high-end architecture company client approached Sequoia to participate in bidding of it’s headquarters refinance. The incumbent lender had offered our client attractive terms for the new loan which would need to close in the next 30 days due to a loan maturity.
Sequoia had little time in bringing in a competing lending source. Our group sourced a lender whom offered a better interest rate and provided a more lenient prepay structure. The terms of the loan include a 7-year fixed term, 20-year amortization, and 3%, 2%, 1%, 0% prepay schedule.