Alex Massachi Of Massachi Industries Secures $48 Million Construction Loan From Bank Of America For Development Site In West Hollywood
8025 Santa Monica Boulevard
$48,000,000
$369/SF
Building Size
130,000 SF
Asset Type
Development Site
Closing
May 1, 2026
AI
The asset involved is a development site located at 8025 Santa Monica Boulevard in West Hollywood. The total square footage of the site is 130,000. The loan amount secured for this project is $48,000,000, classified as a construction loan, provided by Bank of America.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $48,000,000
- Address: 8025 Santa Monica Boulevard
- Market: West Hollywood
- Lender: Bank of America
- Landlord: Alex Massachi - Massachi Industries
Alex Massachi, founder of Massachi Industries, is leading the development project, which is noted to be the largest housing initiative West Hollywood has encountered in the last decade, according to CoStar data.
Players
West Hollywood Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93