Bolour Associates Recapitalizes North Hollywood Development Site With $4.5M Loan | 5240 Lankershim Boulevard | Bolour Associates | Development Site | Loan

Summary

Loan

CALIFORNIA

Development Site

29,617 sqft

The development site located at 5240 Lankershim Boulevard in North Hollywood spans 29,617 square feet. The property served as the subject for a recapitalization loan, valued at $4,500,000 and facilitated by Bolour Associates.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $4,500,000
Market: North Hollywood
Lender: Bolour Associates
Loan Type: Recapitalization
Loan Terms: 24 Months
Landlord: Grubb Properties

Hiren Naik and Clay Goldthwait played crucial roles in the transaction as representatives for Bolour Associates. The loan, aimed at supporting a national developer on a 128-unit multifamily project amidst economic uncertainties, marks the third and final installment in a series of three deals within the same portfolio. For more information on their lending services, interested parties can reach out to Clay Goldthwait at ☎️ 323-677-0550 ext.121 or 📧 [email protected].

Players

All
1

Lenders
1

Bolour Associates

Details

Deal Summary

FINANCED

IMAGE: Hiren Naik & Clay Goldthwait DATE: 03/01/2024 ADDRESS: 5240 Lankershim Boulevard MARKET: North Hollywood ASSET TYPE: Development Site ~ SF: 29,617 LENDER: Bolour Associates (@Bolour_CRE, @claygold21) LANDLORD: Grubb Properties LOAN AMOUNT: $4,500,000 LOAN TYPE: Recapitalization LOAN TERMS: 24 Months NOTE FROM LENDER: This North Hollywood land recapitalization is the third and final loan by BOLOUR in a three-deal portfolio, helping a national developer navigate through economic uncertainty as it moves forward on a 128-unit multifamily development. We continue to partner with developers on projects throughout California. Contact Clay Goldthwait at ☎️ 323-677-0550 ext.121, 📧 [email protected], or visit bolourassociates.com/lending/ for more on how BOLOUR can fulfill your lending needs. BOLOUR is an asset-based bridge lender specializing in urban infill primary & secondary markets. BOLOUR draws from our experience in investment & development to tackle complicated private lending deals. We can finance up to 75% LTV, loan term up to 2 years, loan amount from $3 million to $30 million, and interest rates starting at 9.50%.

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Address5240 Lankershim Boulevard

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