Multifamily Cross-Collateralization

 In RECENT TRANSACTIONS

section8

Lone Oak Fund LLC funded a $4,500,000 first trust deed, priced at 8.30% interest only, cross-collateralizing (6) Section 8 apartment buildings in South Los Angeles. The Borrower has owned these properties since 1972 and plans on installing solar panels prior to sale in 2015. The Loan was used to pay off existing liens and provide cash-out to install energy efficient panels. The installation of solar panels will substantially decrease operating costs, making the portfolio more desirable to the purchaser in 2015.

 

 

 

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