$7,507,000 Venice Beachfront Apartment Building

 In RECENT TRANSACTIONS

 

Loan Amount $7,507,000
Transaction Acquisition
Collateral 32-unit beachfront apartment building
Location Venice, California
Purpose of Loan Purchase mostly vacant apartment building
Exit Strategy Refinance after lease-up
Loan Term 12 months
Interest Rate 6.90% interest only
Origination Fee 0.75 point
Additional Terms No prepayment penalty. No yield maintenance. Non-recourse.
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