Dealmaker: Berkadia Secures $26M in Financing for Land Rover Dealership in Los Angeles

(Image courtesy of Berkadia)

Berkadia, New York, secured $26 million for the financing of Land Rover Los Angeles, a dealership and service center.

Managing Directors Keith Rosso and George Spadier, and Associate Director Jeremy Kanter of Berkadia Los Angeles secured the financing through Grant Street Funding on behalf of a private Beverly Hills based partnership.

The full-term interest-only fixed-rate loan refinanced an existing bank loan and returned equity to ownership.

“Due to the exceptional infill location and tenant strength, we obtained several competitive financing proposals, despite the specialty automotive use,” Rosso said. “Grant Street Funding was ultimately selected due to their ability to lock rate at application and their non-recourse interest-only execution.”