$7,507,000 Venice Beachfront Apartment Building
Loan Amount | $7,507,000 |
Transaction | Acquisition |
Collateral | 32-unit beachfront apartment building |
Location | Venice, California |
Purpose of Loan | Purchase mostly vacant apartment building |
Exit Strategy | Refinance after lease-up |
Loan Term | 12 months |
Interest Rate | 6.90% interest only |
Origination Fee | 0.75 point |
Additional Terms | No prepayment penalty. No yield maintenance. Non-recourse. |
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