CGI Strategies Secures $24M Land Loan For Development Site On S. La Brea Ave

Located at 639 S. La Brea Avenue in Los Angeles, this development site has recently undergone a closed property transaction. The asset type is a development site, spanning a total of 201,000 square feet. The deal was facilitated by brokers Jonathan More, Jordan Ray, Steven Buchwald, and Lexington Henn.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $24,000,000
• Date: 06/18/2021
• Market: Los Angeles
• Landlord: Zion Perets, Gidi Cohen - CGI Strategies
• Loan Terms: 12 Months
• Loan Amount: $24,000,000
• Note from Broker: Mid-single digit rate land loan, two weeks term sheet signing to close, non-recourse 💪

The landlords involved in this transaction are Zion Perets and Gidi Cohen, representing CGI Strategies. They successfully secured a loan amount of $24,000,000 for the development site. The loan has a term of 12 months and is non-recourse. The brokers, Jonathan More, Jordan Ray, Steven Buchwald, and Lexington Henn, played a crucial role in facilitating this deal.