Nathan Stein Receives $4.8M Cash Out Refinance For 24-Unit Multifamily In Studio City

The property asset involved in this transaction is a multifamily asset located at 12015 Kling Street, Studio City, with a total of 24 units and a square footage of 23,973. The loan amount for this transaction is $4,800,000, classified as a cash-out refinance with a loan-to-value ratio of 65%. The terms include a fixed interest rate of 5.76% for a duration of 3 years, along with flexible prepayment options.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,800,000
• Loan Type: Refinance
• Loan Terms: Cash Out Refinance at 65% LTV for 3 Years Fixed at 5.76% with Flexible Prepay
• Address: 12015 Kling Street
• Market: Studio City
• Units: 24
• Square Footage: 23,973
• Landlord: Nathan Stein
• Broker: Brian Asheghian - Convoy Capital

This transaction features Nathan Stein as the landlord and Brian Asheghian representing Convoy Capital as the broker. The refinancing strategy is designed to optimize the asset's financial structure while allowing for cash withdrawal against the property's equity.