Bolour Associates Provides $6.5M Recapitalization Loan For Santa Monica Development Site

A loan in the amount of $6,500,000 was provided for the recapitalization of a development site located at 700 Santa Monica Boulevard in Santa Monica. The loan terms are set at 24 months.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $6,500,000
• Lender: Bolour Associates - Mark Bolour & Clay Goldthwait
• Developer: Grubb Properties
• Mortgage Type: Recapitalization

Mark Bolour & Clay Goldthwait from Bolour Associates served as the lenders in this transaction. Grubb Properties, as the developer, sought the loan to recapitalize equity on their prime Santa Monica land purchase, allowing them to secure construction financing and ultimately deliver 99 much-needed multifamily units to the local market. For more information on how BOLOUR can fulfill your lending needs, you can contact Clay Goldthwait at ☎️ 323-677-0550 ext.121, 📧 [email protected], or visit bolourassociates.com/lending/.

Note: BOLOUR is an asset-based bridge lender specializing in urban infill primary & secondary markets. They have experience in investment & development and are able to tackle complicated private lending deals, including unentitled land plays. With financing options of up to 75% LTV, loan terms of up to 2 years, loan amounts ranging from $2 million to $30 million, and interest rates starting at 9.50%, BOLOUR offers a reliable solution for lending needs.