LOS ANGELES—Stanford 1050 LLC has gained a $23.5 million acquisition loan for the purchase of a 173,000-sq.-ft. industrial building in the downtown.
The building is on 1.5 acres at 1050 Stanford Ave. The garment/manufacturing facility will be 60 percent owner occupied. The new owner will use the facility for warehouse and showroom space.
BFC SBA lending closed the 20-year SBA 504 loan in 43 days, according to Jacky Kim, executive vice president of BFC. She says the SBA loans are the “lifeblood of commercial real estate,” according to a statement.