$15,500,000 – Newly Constructed Apartment Building
Loan Amount | $15,500,000 |
Transaction | Refinance |
Collateral | 59,323 square foot apartment building (70 units) on a 17,496 square foot lot |
Location | North Hollywood, California |
Purpose of Loan | Pay off maturing construction loan |
Exit Strategy | Permanent financing after lease up |
Loan Term | 12 months |
Rate | 4.90% interest only |
Additional Terms | No prepayment penalty. No yield maintenance. Non-recourse. |
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