Convoy Capital Inc Provides $12.4M Construction Loan For Development Site In North Hollywood

The development site located at 11003 Moorpark Street in North Hollywood spans over 13,306 square feet with a buildable square footage of 24,270. The asset, secured by a construction loan, attracted a loan amount of $12,427,000 from Convoy Capital Inc. The loan terms involve a Ground Up Construction Loan at 80% Loan-to-Cost (LTC) for a 24-month period at an interest rate of 11.50%.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,427,000
• Address: 11003 Moorpark Street
• Market: North Hollywood
• Asset Type: Development Site
• BSF: 24,270
• SF: 13,306

Andre Jackson is the landlord of the property, while Brian Asheghian from Continental Partners acted as the broker representing the deal in securing the construction loan from Convoy Capital Inc.