Tuan Nguyen Secures $3.42 Million Construction Loan For Development Site In Los Angeles

The property involved in this transaction is a development site located at 3313 West 48th Street in the Los Angeles market. This asset encompasses a buildable square footage (BSF) of 9,590 and an overall square footage (SF) of 9,590.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $3,420,000
• Lender: Tameer Orevi - Orevi Capital
• Landlord: Tuan Nguyen
• Loan Type: Construction
• Loan Terms: 80% LTC and 65% ARV, interest reserve financed, 18 month construction loan, no prepayment penalty

The key individuals in this transaction include Tameer Orevi, who represents Orevi Capital as the lender, and Tuan Nguyen, who is identified as the landlord. Notably, Orevi Capital financed the acquisition and construction of this lot, which has plans for the development of 10 multi-family units. An interest reserve was also included in the loan structure.