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Buchanan Mortgage Holdings Provides $18 Million Bridge Loan To Ventus Group For Development Site In Los Angeles
FINANCED
$18,000,000
California
See Similar DealsDevelopment Site
Financed 09/29/2025
FINANCED
Buchanan Mortgage Holdings Provides $18 Million Bridge Loan To Ventus Group For Development Site In Los Angeles
3822 South Figueroa Street
See Similar DealsDevelopment Site
Financed 09/29/2025
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Loan
The property involved is a development site located at 3822 South Figueroa Street in Los Angeles. This site consists of a 13-parcel assemblage and is positioned across from USC. The lender for this transaction is Buchanan Mortgage Holdings, which provided financing for the project aimed at developing a 209-unit student housing facility, along with renovations of historic apartments and new accessory dwelling units (ADUs) targeted towards USC students.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $18,000,000
- Lender: Buchanan Mortgage Holdings
- Landlord: Ventus Group
- Loan Type: Bridge
- Date of Transaction: 09/29/2025
Key figures in this transaction include Ventus Group as the landlord, who is responsible for the property development process. Buchanan Mortgage Holdings, as the lender, facilitated the bridge loan to support the project's financial requirements, helping to realize the vision for a significant student housing development in proximity to USC.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,000,000.00
Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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