other_material
confidence high
sentiment neutral
materiality 0.75
Focus Universal acquires Class A office building in Monterey Park for $17.7M
FOCUS UNIVERSAL INC.
- Acquired 901 Corporate Center Drive, Monterey Park, CA for $17.7M (excl. closing costs) via subsidiary Lusher Holding LLC.
- Funded with $11.05M term loan from East West Bank at 6.25% for first 3 years, then Prime + 0.25% with 6.25% floor.
- Property is 99.2% occupied by ~16 tenants; company occupies ~2,000 sq ft; management transition to Lee & Associates.
- Loan: 83 monthly payments ~$68,699, then 83 payments ~$73,918, final balloon ~$9.53M due April 2036.
- CEO Dr. Desheng Wang is secondary guarantor on the loan; company is primary guarantor.