A construction loan has been secured for a special purpose property in Compton, CA. The property spans a total of 18,731 square feet, and the transaction took place on May 4, 2022.

Summary of transaction details:

• Property Type: Special Purpose
• Transaction Amount: $5,520,000
• Loan Type: Construction
• Loan Terms: Loan-to-Cost: 68%, Rate: 9%, Term: 36 Months - Interest Only, Guaranty: Non-Recourse
• Lender: Max Benjamin Partners

The loan was provided by Max Benjamin Partners, a reputable lending institution. The loan amount of $5,520,000 represents 68% of the total cost of the construction project. The terms of the loan include a fixed interest rate of 9% and a term of 36 months, with interest-only payments. It is important to note that the loan is non-recourse, providing additional security for the borrower.

Max Mellman, Jason Moyal, and Zak Ziv of Max Benjamin Partners Inc. represented both the borrower and the lender in this transaction. Their expertise in the real estate industry played a crucial role in securing the loan for this special purpose property in Compton, CA.