Jay Gregor Secures $1.44M Construction Loan From Orevi Capital For 10035 South Western Avenue

The property asset involved in the transaction is an 8-unit multifamily building located at 10035 South Western Avenue in the Los Angeles market. It encompasses a total square footage of 8,604 and is part of a mid-construction project currently about 80% complete.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,437,945
• Lender: Orevi Capital - Tameer Orevi
• Landlord: Jay Gregor
• Loan Type: Construction
• Loan Terms: Cash out refinance with construction holdback, 18 month loan term, no prepayment penalty, single digit interest rate

The key individuals in this transaction include Tameer Orevi, representing Orevi Capital, who facilitated the loan, and Jay Gregor, the landlord involved in the project. Orevi Capital addressed the borrower's needs for cash out, additional construction funds, and an interest reserve while offering a competitive fixed interest rate.