Focus Universal Buys $17.7M Monterey Park Office; Secures $11.05M East West Bank Loan
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Focus Universal has acquired a 100,743-square-foot Class A office property in Monterey Park, California, for $17.7 million, financed by an $11.05 million term loan from East West Bank. The property is 99.2% leased to 16 tenants and includes a four-level parking structure with solar panels. The loan has a fixed rate of 6.25% for three years, then floats at WSJ Prime plus 0.25%, maturing in 2036. Lee & Associates will manage the property during the transition.
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