$2,170,000 30 Day Close – Acquisition Loan for Micro Unit Multi-Family Property in Hancock Park

  • Rate: 4.5% Fixed
  • Term: 5 Years
  • Amortization: 30 Year Amortization
  • Prepayment Penalty: 3, 2, 1
  • LTC/LTV: 75%
  • Origination Fee: Par
  • Guaranty: Recourse

George Smith Partners secured a $2,170,000 permanent loan for the acquisition of a vintage multi-family property in Hancock Park, comprised of 100% studio units. In order to meet the seller’s timing requirements, GSP secured a loan from a regional bank.  By leveraging their deep relationship with the bank, GSP was able to have the lender provide 75% leverage and close with 30 days.

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