"First Interstate Mortgage Co.'s income property division has arranged a $2.3-million construction loan and $2.6-million permanent loan for the rehabilitation of an existing three-story building in Pasadena, located at 95 N. Marengo St."
"The rehabilitation will include 21,800 square feet of land with existing buildings to be remodeled into 21,968 square feet of retail and office areas."
First Interstate Mortgage Co.'s income property division has secured financing for a significant real estate rehabilitation project in Pasadena. The project involves a $2.3-million construction loan and a $2.6-million permanent loan totaling $4.9 million. Located at 95 N. Marengo St., the three-story existing building sits on 21,800 square feet of land. The rehabilitation work will transform the existing structures into 21,968 square feet of combined retail and office space, representing a modernization of the property for commercial use.
#commercial-real-estate-financing #building-rehabilitation #retail-and-office-development #pasadena-construction
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