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
