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1331 N Cahuenga Blvd, Centr...

Tony Avila & Arthur Falcone's Rescore Property Corp Secures $138M Loan For Hollywood Multifamily With Square Mile Capital Principal Tom Burns As Lender
FINANCEDMultiFamily

Tony Avila & Arthur Falcone's Rescore Property Corp Secures $138M Loan For Hollywood Multifamily With Square Mile Capital Principal Tom Burns As Lender

1331 N Cahuenga Blvd, Central LA, Los Angeles, CA, USA

$138,000,000

$164,481/SF

Building Size

839 SF

Asset Type

MultiFamily

Closing

Feb 25, 2021

AI

The multifamily property located at 1331 North Cahuenga Blvd. in Hollywood was involved in a recent transaction. The loan transaction took place on 02/26/2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $138,000,000
  • Address: 1331 North Cahuenga Blvd.
  • Market: Hollywood
  • Units: 369

The property is owned by Tony Avila and Arthur Falcone, who represent Rescore Property Corp. The loan for the transaction was provided by Square Mile Capital Principal, Tom Burns. Eric McGlynn, from Walker & Dunlop, served as the broker in the deal.

Players

Eric McGlynn

Walker & Dunlop

Broker

$547.4M

vol

6 deals

Broker
Square Mile Capital
Square Mile CapitalLender

Art Falcone

Rescore Property Corp.

Landlord

$771.7M

vol

12 deals

Landlord

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93