PROJECT INFO

Nonrecourse bridge for 20% leased office in East LA

Finance Amount: $12,000,000

DESCRIPTION

Bridge take-out; $2.8M holdback for TI; 3-yr term with (2) one-year extension; L+650bps; I/O with 2yr lockout; 1% exit fee; non-recourse. 45-day app to close. 80% LTC
Location: Los Angeles, CA
Deal Type: Value Add Financing
Property Type: Office
Year: July' 2017