Shahram Mousavi Secures $8.85M Construction Loan For Los Angeles Development Site

The property located at 3451 Motor Avenue in Los Angeles is a Development Site with a building square footage of 7,508 and a buildable square footage of 16,275. The landlord of this property is Shahram Mousavi.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $8,850,000
• Loan Type: Construction Loan
• Loan Terms: $8,850,000 Construction Loan for a 30 Unit Multifamily Development Project at 65% LTC for 36 Months at Prime + 1%
• BROKER: Brian Asheghian - Convoy Capital

The loan for this property transaction was facilitated by Brian Asheghian from Convoy Capital. The loan amount of $8,850,000 was secured for a 30 Unit Multifamily Development Project with specific terms tailored to the construction phase, reflecting a Loan-to-Cost ratio of 65%. The loan is set for a 36-month period at Prime + 1% interest rate.