$2,800,000 Multi-Family Construction Financing to 78% of Cost

Transaction Description: Jonathan Lee and Adam Candler arranged the ground-up construction financing for an 8 unit multi-family rental building in Studio City, California. The project is a four-story structure, primarily composed of three-bedroom units that will feature underground parking and open floor plans ranging from 1,100 to 1,250 square feet. The project is located near public transit, freeways, good schools, and the entertainment employment hub. Poised to draw residents that desire a walkable neighborhood, the subject will have foot-access to entertainment industry employers and boutique retailers. Sized to 78% of cost, the 18 month loan is priced at WSJ Prime + 1.00% with a 5.50% floor rate.