Eastern Union Arranges $10 Million Refinancing for 102,862-square-foot Industrial Property in San Fernando, CA

NEW YORK, Nov. 3, 2025 /PRNewswire/ -- Eastern Union, one of America's largest commercial real estate mortgage brokerages, has secured $10 million to refinance an owner-occupied, 102,862-square-foot industrial condominium in San Fernando CA, a city located 23 miles northwest of Los Angeles.

Built in 1964 and renovated in 2007, the single-tenant, owner-occupied industrial condominium is home to New Haven Moving Equipment, a wholesaler of moving equipment. The one-story structure is situated on a 4.23-acre parcel at 13571 Vaughn Street.

The Eastern Union brokers were senior loan consultant Alex Jaffa and loan originator Ben Halpern.

The lender, Valley Bank, provided a two-year loan with a one-year extension option, a fixed 6.23-percent interest rate, and interest-only payments over the full term. The non-recourse transaction included a $5-million cash-out of an existing loan. It also carried decreasing prepayment penalties over each year of the three-year period. The borrower is Dreadnaught Properties Los Angeles.

"Alex Jaffa and Ben Halpern provided extraordinary service to this client," said Abe Bergman, president and co-founder of Eastern Union. "Most lenders do not do cash-outs or non-recourse transactions on owner-occupied properties. The Eastern Union team found a lender that accommodated the client on both fronts, while also providing flexible prepayment terms."

The building consists of 6,738 square feet of office space and 96,124 square feet of warehouse/manufacturing space.

About Eastern Union

Founded in 2001, Eastern Union is a national commercial real estate firm that employs more than 90 real estate professionals and closes billions of dollars' worth of transactions annually. Eastern Union leverages its relationships with lenders and its marketplace knowledge to secure the best available rates and terms.

Eastern Union secures financing for transactions of all sizes across the United States. Transactions, which can include multi-state and multi-site portfolios, encompass conventional commercial mortgages, structured debt, multifamily, office, retail, healthcare, hospitality, manufactured home properties, single-family rentals, self-storage, and -- handled in conjunction with company affiliate Eastern Equity Advisors -- equity placement.

For more information, visit www.easternunion.com.    

Media contact:
Steve Vitoff
Eastern Union
516-652-0785
[email protected] 

SOURCE Eastern Union