Updated Oct 28, 2024
Archway Capital Provides $10M Construction Loan For Mixed-Use Property In West Hollywood
637 North La Peer Drive, West Hollywood, California 90069, United States
$10,000,000
$474/SF
Building Size
21,067 SF
Asset Type
Mixed-use
Closing
Jan 17, 2022
About this deal
AI
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
West Hollywood Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93