$6,500,000 West Hollywood Development Site2017-04-202017-04-20https://www.loneoakfund.com/wp-content/uploads/2018/04/lone-oak-fund-logo.pngLone Oak Fundhttps://www.loneoakfund.com/wp-content/uploads/2017/04/fairfax.jpg200px200px
Loan Amount
$6,500,000
Transaction
Refinance
Collateral
5 contiguous lots zoned R4 totaling 34,238 square feet; fully entitled for 53 multifamily units
Location
West Hollywood, California
Purpose of Loan
Recoup funds from all-cash purchase
Exit Strategy
Construction debt once permits are obtained
Loan Term
12 months
Interest Rate
7.90% interest only
Origination Fee
0.85 point
Additional Terms
No prepayment penalty. No yield maintenance. Non-recourse.
