Continental Partners Provides $9.04M Loan For Development Site In Valley Village

Continental Partners Inc. has provided a 7-year fixed construction to perm loan of $9,042,500 at an interest rate of 3.85% for a development site in Valley Village. The loan amount represents 70% of the project cost, and the construction period is set for 30 months, with the option to extend. The loan automatically converts to a permanent loan at the same rate, which remains fixed throughout the entire 7-year period.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $9,042,500
• Address: 12301 W Magnolia Blvd
• Market: Valley Village
• Square Footage: 35,010
• Units: 26
• Lender: Continental Partners Inc.
• Landlord: Studio One LLC
• Brokers: Brian Asheghian - AGENCY, JM Grimaldi - AGENCY

The development site located at 12301 W Magnolia Blvd in Valley Village has secured financing from Continental Partners Inc. for a 26-unit project. Brian Asheghian from AGENCY and JM Grimaldi from AGENCY represented the parties involved in the loan transaction. The construction period, including extension options, spans 30 months, after which the loan automatically converts to a permanent loan at the same rate.