Castellan Capital Provides $12M Loan For Mixed-Use Property On Long Beach Blvd

The mixed-use property located at 1570-1598 Long Beach Blvd in Long Beach has recently undergone a cash-out construction refinancing transaction. The loan, provided by Castellan Capital, amounted to $12,000,000. The property spans across 53,200 square feet and includes 36 residential units and 5 commercial spaces. The loan was closed in less than 30 days, showcasing the efficiency of the process.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $12,000,000
• Address: 1570-1598 Long Beach Blvd, Long Beach
• Market: Long Beach
• Square Footage: 53,200
• Units: 36 residential, 5 commercial

Matthew Bucaro of Tauro Capital Advisors represented the buyer in this transaction, while Daniella Marca of Castellan Capital facilitated the deal as the lender's representative. The landlord for this property is Los Angeles City Plaza. The deal highlights the successful collaboration between different parties involved in the real estate transaction.