$11,400,000 – Newly Constructed Apartment Building
Loan Amount | $11,400,000 |
Transaction | Refinance |
Collateral | 46,984 square foot newly constructed, 36 unit apartment building on a 23,240 square foot lot |
Location | Ladera Heights, California |
Purpose of Loan | Pay off existing construction loan |
Exit Strategy | Permanent financing |
Loan Term | 6 months |
Rate & Fee | 5.90% interest only; 0.50 point Origination Fee |
Additional Terms | No prepayment penalty. No yield maintenance. Non-recourse. |
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