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
