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
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