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90% LTV Acquisition Financing for 6-Unit Building; Beverly Grove Area of Los Angeles, CA

Blended Rate: 7.93%
Term: 12 Months
Amortization: Interest Only
LTV: 90%
Blended Loan Fee: 1.67%
Prepayment Penalty: None
Guaranty: Non-Recourse

Transaction Description:

George Smith Partners secured $2,475,000 (90% Loan to Purchase Price) of senior and mezzanine financing for the acquisition of a 6-unit multifamily building in the Beverly Grove area of Los Angeles. The loans both have a 12-month term and are open to prepay at any time. The Sponsor plans to use the term to entitle the building for a potential future development. The non-recourse financing allowed for the Sponsor to contribute a minimal amount of equity into the purchase of the Property. The blended rate came out to 7.93% across the entire capital stack.

Advisors

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