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. |
