$21,000,000 – Newly Constructed Apartment Building
| 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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