The Festival Companies Secures $6.125 Million Acquisition Loan For 40-Unit Multifamily Property In West Hollywood

The property asset involved in this transaction is a multifamily building located at 1260 North Hayworth Avenue in West Hollywood, comprising 40 units. The loan amount secured for the acquisition of this property is $6,125,000, with loan terms set at a fixed interest rate of 6.25% for three years, non-recourse, and full-term interest only.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,125,000
• Address: 1260 North Hayworth Avenue
• Market: West Hollywood
• Units: 40
• Loan Type: Acquisition
• Loan Terms: 6.25% Fixed for Three Years, Non-Recourse, Full-Term Interest Only
• Landlord: The Festival Companies
• Broker Representatives: Dorian Aftalion, John Bianco & David Oheb - Meridian Capital Group

The key individuals involved in the transaction include broker representatives Dorian Aftalion, John Bianco, and David Oheb who are associated with Meridian Capital Group. The Festival Companies is noted as a full-service real estate provider, developer, owner, and operator with over 40 years of experience and management of more than 4 million square feet of retail space.