Archway Capital Provides $10M Construction Loan For Mixed-Use Property In West Hollywood
FINANCED
$10,000,000
California
See Similar DealsMixed-use21,067 SF
Financed 01/18/2022
FINANCED
Archway Capital Provides $10M Construction Loan For Mixed-Use Property In West Hollywood
637 North La Peer Drive, West Hollywood, California 90069, United States
See Similar DealsMixed-use21,067 SF
Financed 01/18/2022
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$474
Total Square Footage:21,067 SF
Transaction Type:Loan
The property at 637-641 North La Peer Drive in West Hollywood has recently been involved in a closed transaction. The mixed-use asset spans across a total area of 21,067 square feet.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $10,000,000
- Address: 637-641 North La Peer Drive, West Hollywood
- Market: West Hollywood
- Square Footage: 21,067
The lender involved in this transaction is Archway Capital, providing a construction loan for the property. The loan amount is $10,000,000, with a loan type described as a construction loan. The loan terms include an 81% loan-to-cost ratio, with a duration of 36 months. Additionally, there are two 18-month extension options available, and an 18-month yield maintenance requirement starting at an 11.00% rate.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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