Bryan Shaffer and Jon Shapiro successfully placed the refinance of a partially occupied SRO property in the heart of Los Angeles. SROs are dorm style multifamily with some shared bathrooms and no kitchens inside individual units. Funds are allocated to complete the rehabilitation of the subject property and complete lease-up beyond the current break-even coverage. Fixed at 7.9%, the 12 month non-recourse loan does not carry a prepayment penalty or exit fee.
