Tameer Orevi Provides $1.35M Bridge Loan For Development Site At 540 North Flores St. In West Hollywood
FINANCED
$1,350,000
California
See Similar DealsDevelopment Site8,000 SF
Financed 08/08/2023
FINANCED
Tameer Orevi Provides $1.35M Bridge Loan For Development Site At 540 North Flores St. In West Hollywood
540 N Flores St West Hollywood, CA 90048, USA
See Similar DealsDevelopment Site8,000 SF
Financed 08/08/2023
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$168
Total Square Footage:8,000 SF
Transaction Type:Loan
A development site located at 540 North Flores Street in West Hollywood has been involved in a loan transaction. The property, with a buildable square footage (BSF) of 8,000, is the subject of this loan deal.
Summary of transaction details
- Property Type: Development Site
- Address: 540 North Flores Street
- Market: West Hollywood
The loan for this property has been provided by Tameer Orevi - IceCap Group to Rachel Ishakov, the landlord. The loan amount is $1,350,000, and it is categorized as a bridge loan.
The loan terms include a 75% loan-to-value ratio (LTV), with an interest rate of 8.99% on an interest-only basis. The loan is set to mature in 24 months.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,350,000.00
Monthly NOI$9,000.00
Monthly Debt Service$8,532.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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