Meridian Capital Group Arranges $5.4M Bridge Loan For Culver City Industrial To Creative Office Redevelopment

A bridge loan with future development funding has been secured for the vacant industrial to creative office redevelopment located at 5909 Blackwelder Street in Culver City, CA. The loan amount is $5,400,000, and it has a 3-year fixed term at an interest rate of 6.25%. The loan is full-term interest only and has a debt service coverage ratio (DSCR) of 1.20x based on projected rents.

Summary of transaction details

• Property Type: Vacant Industrial to Creative Office Redevelopment
• Transaction Amount: $5,400,000
• Loan Type: Bridge Loan with Future Development Funding
• Loan Terms: 3-Year Fixed at 6.25%, Full-Term Interest Only, 1.20x DSCR Based on Projected Rents

The loan was facilitated by Seth Grossman and Dorian Aftalion from Meridian Capital Group. Meridian Capital Group is a leading real estate finance and advisory firm that has closed over $60 billion in financing in 2022 across various property types. They represent many of the world's top real estate investors and developers.

For more information about the loan or to contact Seth Grossman or Dorian Aftalion, you can reach out to [email protected] or [email protected].