$22,000,000 Non-Recourse Construction; 121-Unit Los Angeles Multifamily

  • Rate: 3 Mo. LIBOR + 4.00%
  • Term: 40 Months w/ 2 One-Year Extensions
  • Amortization: Interest Only
  • LTC: 60%
  • Non-Recourse
  • Lender Fee: 1.0%

Transaction Description: George Smith Partners successfully placed the $22,000,000 senior construction loan for a 121 unit apartment building in the Westlake neighborhood of Downtown Los Angeles, California. The project will offer unobstructed views of the Los Angeles skyline. There will be 107 market rate apartments and 14 affordable housing units. Sized to 60% of project cost, the non-recourse loan is priced at LIBOR+ 4.0% for the 40 month term.

Related Financings

Cash Neutral Refinance for Multifamily Property; Los Angeles, CA
View
Acquisition Financing for a 10-Acre Entitled Multifamily Site; Western State
View
$4,150,000 Acquisition Financing for Multi-Tenant Retail Center; Charlotte, SC
View
Bridge Financing for Cash-Out Refinance of a Special Purpose Property; Los Angeles, CA
View
Financing Placeholder
Land Financing for Entitled Land; Los Angeles, CA
View
Financing Placeholder
$38,500,000 Cash-Out Refinance of 98% Leased Grocery-Anchored Retail Center; Utah
View
Financing Placeholder
Unentitled Land Financing for Infill Multifamily Development; Los Angeles, CA
View
Financing Placeholder
$50,250,000 Acquisition Bridge Financing for a Multifamily Portfolio; Houston, Texas
View
Permanent Multifamily Financing; Los Angeles, CA
View
$3,830,000 Refinance of a 11-Unit Multifamily Property; Los Angeles, CA
View
Financing Placeholder
Acquisition Financing and JV Equity for 57.62 Acres of Vacant Land; Cibolo, TX
View
Land Acquisition Financing for 6.8-Acre Development Site; Denver, CO
View