Sold

Multifamily - Acquisition

LOS ANGELES, CA

$1,000,000

LOS ANGELES, CA

 

Funding Purpose

Provided acquisition financing to allow the sponsor to utilize low interest rates.

Property Description

7-unit Multifamily property in the North Hollywood neighborhood of Los Angeles.

Sponsors

A local family from Los Angeles with years if experience in Real Estate looking to purchase their first Multifamily property

Challenges

  • First-time Multifamily buyer.
  • Complex entity structure with 5 sponsors.
  • Sponsor was given a short closing window by the seller.

Solutions

  • We utilized our strong capital sources to provide multiple financing options.
  • Worked with the lender to allow post-closing stipulations to close in a timely manner.

Funding

  • Loan Amount (LTV): 58% LVT
  • Interest Rate: 3.60% 
  • Amortization: 30 years
  • Term: 5 years
  • Recourse: Non-recourse


Frankie Paparella

Frankie Paparella

TITLE

Associate Director, Capital Advisor

Follow Us On Instagram