Max Benjamin Partners Arranges $15,925,000 Loan For Luxury Residential Subdivision In Woodland Hills

The asset involved in this transaction is a luxury residential subdivision consisting of 17 lots located in Woodland Hills, CA within the Los Angeles market. The loan amount secured for this project is $15,925,000, designated for acquisition and development with specific loan terms including 65% LTC and 60% LTV, a SOFR + 575 interest rate, a 12-month term, and limited recourse.

Summary of transaction details:

• Property Type: Luxury Resi Subdivision
• Transaction Amount: $15,925,000
• Loan Type: Acquisition & Development Site
• Loan Terms: 65% LTC and 60% LTV; SOFR + 575 Interest Rate; 12 Month Term; Limited Recourse
• Brokers: Gabe Steffler & Max B. Mellman - Max Benjamin Partners

Gabe Steffler and Max B. Mellman, representatives from Max Benjamin Partners, arranged financing for the project's development, facilitating a senior acquisition and development facility. The transaction notably closed with no presales and no national builder takeout, allowing for greater flexibility for the sponsors to proceed with building homes or opting for finished lot sales.