Speculative West Los Angeles SFR Acquisition and Construction/Reposition Financing

  • Rate: 9.25% Fixed
  • Term: 12 Months plus Two 3-Month Extensions at 0.5% each.
  • Amortization: Interest Only
  • LTC: 77.50%
  • Guarantee: Recourse

George Smith Partners placed the 77.5% loan-to-cost acquisition and construction financing for a speculative single family residence in West Los Angeles.  The loan was structured to include $471,000 for future funding, transforming the 1,100 square foot 3-bedroom/1-bathroom residence into a 2,500 square foot main house featuring 4-bedrooms/5-bathrooms and a 500 square foot detached guest house.  Fixed at 9.25% for 12 months, the loan offers two extension periods.

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