​Loan Amount | ​$7,000,000 |
​Transaction | ​Refinance |
​Collateral | 22,575 square foot 7-unit SLO on a 15,000 square foot lot |
​Location | Silver Lake, Los Angeles, California |
​Purpose of Loan | Payoff existing construction loan and complete the project. |
​Exit Strategy | Sell off individual completed units |
​Long Term | ​12 Months |
​Rate | 9.90% interest only |
​Additional Terms | ​No prepayment penalty. No yield maintenance. Non-recourse. |
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