Pastor Martin Porter Of Logos Faith Development Secures $15M Construction Loan In Los Angeles

The property asset involved is a development site located at 706 West 85th Street in Los Angeles. The site is intended for a construction project focusing on affordable housing. The loan amount secured for this project is $15,000,000, aimed at facilitating the development of St Rest Phase One, which will include 62 affordable housing units on church-owned land.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,000,000
• Lender: Sunflower Bank
• Landlord: Pastor Martin Porter - Logos Faith Development
• Loan Type: Construction

This transaction represents a partnership between Sunflower Bank and Logos Faith Development, spearheaded by Pastor Martin Porter. The project is part of a larger two-phase plan that aims to deliver a total of 138 units along with a new church facility, reflecting a commitment to addressing affordable housing needs in Southern California.