Joey Simantoub Secures $3.3 Million Refinance For Multifamily Asset In Los Angeles

The property asset involved in this context is a multifamily building located at 11600 Rochester Avenue in the Los Angeles market. It consists of 13 units and has a total square footage of 12,390. The transaction is a refinance with a loan amount of $3,300,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,300,000
• Loan Type: Refinance
• Loan Terms: Cash Out Refinance for 3 Years Fixed at 5.66% with 1 Year of Interest Only and Stepdown Prepay
• Landlord: Joey Simantoub
• Broker: Brian Asheghian - Convoy Capital

The key individuals involved in this transaction include Joey Simantoub, acting as the landlord, and Brian Asheghian, representing the interests of the deal through Convoy Capital. Their roles are crucial in facilitating the refinance process for the multifamily asset.