Updated Mar 11, 2025
Northmarq Provides $7.4M Refinance Loan For Beverlywood Multifamily Development
1070 South Bedford Street, Los Angeles, CA, USA
$7,435,000
$1,290/SF
Building Size
5,761 SF
Asset Type
MultiFamily
Closing
Apr 8, 2021
About this deal
AI
A brand new 19 unit multifamily development project located at 1070 S Bedford St in Beverlywood has secured a refinance loan. The loan amount from northmarq''>northmarq'>Northmarq is $7,435,000 with a term of 10 years fixed and 5 years of interest only. The interest rate is set at 3.80% and it is a non-recourse loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,435,000
- Address: 1070 S Bedford St
- Market: Beverlywood
Brian Asheghian and Zalmi Klyne from Northmarq served as the brokers for this loan transaction. The borrowers were facing the maturity of their construction loan and needed a take out loan. Fortunately, the lenders were able to secure a 10-year fixed loan with 5 years of interest only, allowing the borrowers to refinance at a more favorable interest rate. The loan was funded as soon as the asset was stabilized, providing the borrowers with the option to cash out.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Zalmi Klyne to view all their deals.
Browse California multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.13%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93