$21,000,000 – Newly Constructed Apartment Building

 In RECENT TRANSACTIONS

Loan Amount $21,000,000
Transaction Refinance
Collateral 53,727 square foot newly constructed, 67 unit apartment building on a 28,033 square foot lot
Location Los Angeles, California (Koreatown)
Purpose of Loan Pay off existing construction loan
Exit Strategy Permanent financing
Loan Term 12 months
Rate 5.90% interest only
Additional Terms No prepayment penalty. No yield maintenance. Non-recourse.
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