PROJECT INFO

Bank bridge loan for vacant industrial acquisition for by-right conversion to creative office

FINANCE AMOUNT

$13,850,000

DESCRIPTION

Recourse. 70% LTC, 65% As-Is LTV, Pro forma 8.5% DY; 5yr term, 2yr IO, (2) 6mo IO extensions, option to convert to 24mo amort loan; Prime + 0.25%, floating; 0.50% fee, no prepay penalty,
Los Angeles, CA
Value Add Financing
Industrial
2021