Brian Asheghian Of Convoy Capital Secures $17,275,000 Construction Loan For Affordable Housing Developments In Los Angeles

Development Site with a building square footage of 36,502 located in Los Angeles. The asset is part of two ED1 Affordable Housing Development Projects, financed through a loan. The loan amount is $17,275,000. The financing is structured as a ground-up construction loan with specific terms regarding loan percentage and duration.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $17,275,000
• Loan Type: Construction
• Loan Terms: Ground up Construction Loan for Two ED1 Affordable Housing Development Projects. 75% LTC at Prime + 0.75% for 24 Months and No Prepay
• Originator: Brian Asheghian - Convoy Capital

This transaction involves Brian Asheghian of Convoy Capital, who serves as the originator for the construction loan, facilitating the financing of development efforts for affordable housing in Los Angeles. The loan terms reflect a commitment to support significant housing initiatives within the market, aligning with current development trends.