Phoenix Group Secures $30.3M Refinancing Loan In Hollywood Multifamily Deal

The Urbanlux Fleur Premium apartments in Hollywood, Los Angeles, with a total of 136 units, recently secured a $30.3 million refinancing loan from First Foundation Bank. The property, owned by Phoenix Group, boasts an impressive 99% occupancy rate and was acquired by Phoenix Group for $48.5 million last year.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,300,000
• Address: 1530 North Poinsettia Place
• Market: Hollywood, Los Angeles
• Lender: First Foundation Bank
• Landlord: Phoenix Group
• Broker: Matt Douglas - Venture West Funding
• Loan Type: Refinance
• Loan Terms: Three-year, fixed-rate

The refinancing loan for the Urbanlux Fleur Premium apartments was arranged by Matt Douglas from Venture West Funding on behalf of Phoenix Group. This deal highlights the collaborative effort between the lender, First Foundation Bank, the landlord, Phoenix Group, and the broker, Matt Douglas, in securing the three-year, fixed-rate loan for the property.