Bolour Associates, led by Steven Simantob and Mark Bolour, provided a loan of $11,500,000 for the acquisition of two adjacent land sites in Downtown Los Angeles. The properties, located at 129 W. 3rd St. and 240 S. Spring St., have a combined square footage of 34,528. The loan was an acquisition loan, allowing the borrower to assemble and close on the sites for future multifamily development.

Summary of Transaction Details

• Property Type: Land
• Transaction Amount: $11,500,000
• Address: 129 W. 3rd St. & 240 S. Spring St.
• Market: Downtown Los Angeles
• Square Footage: 34,528

Jeff Sause, a representative from JLL, facilitated the loan transaction. Bolour Associates specializes in asset-based bridge lending, with a focus on urban infill primary and secondary markets. They have expertise in financing complicated private lending deals, including unentitled land plays. Steven Simantob and Mark Bolour can be contacted for more information at ☎️ 323-677-0550 ext.133 or 📧 [email protected]. Additional information about Bolour Associates' lending services can be found at bolourassociates.com/lending/.

Note: Bolour Associates was pleased to assist the borrower in acquiring and closing on the two land sites for future multifamily development.