Bolour Associates Provides $9.2M Recapitalization Loan For Development Site In Hollywood

The loan of $9,200,000 for the development site at 1200 Vine Street in Los Angeles has been provided by Clay Goldthwait & Hiren Naik of Bolour Associates. The loan is for the purpose of recapitalization and has a term of 24 months. This financing will enable the completion of construction drawings and the progress of a project that will bring 151 multifamily units to the heart of Hollywood.

Summary of transaction details:

• Property Type: Development Site
• Loan Amount: $9,200,000
• Loan Type: Recapitalization
• Loan Terms: 24 Months
• Lender: Clay Goldthwait & Hiren Naik - Bolour Associates
• Landlord: Grubb Properties

Bolour Associates worked with the borrower to swiftly close this equity recapitalization, allowing them to proceed with their project. For more information on Bolour's lending services, contact Clay Goldthwait at 323-677-0550 ext.121 or [email protected]. Visit bolourassociates.com/lending/ for additional details on how Bolour can meet your lending needs. Bolour specializes in urban infill primary and secondary markets, providing asset-based bridge loans. They offer financing options up to 75% LTV, loan terms up to 2 years, loan amounts ranging from $2 million to $30 million, and competitive interest rates starting at 9.50%.