Bank A&D Loan to acquire 100,000 SF Site in Downtown Los Angeles for Entitlement of 320 Live-Work Lofts

Finance Amount: $8,000,000


50% LTV as MF entitled land, 90% LTV as hypothetical creative office conversion; 2yrs IO; 1/2% fee; no prepay; Was entitled for 180 units at June 2013 purchase, re-entitling for 320; 100% vacant.
Location: Los Angeles, CA
Deal Type: Value Add Financing
Property Type: Industrial, Land