Updated Dec 4, 2024
Phoenix Group Secures $30.3M Refinancing Loan In Hollywood Multifamily Deal
1530 North Poinsettia Place
$30,300,000
Units
136
Asset Type
MultiFamily
Closing
Jun 28, 2024
About this deal
AI
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.
On the Map
$30,300,000
MultiFamily
View full map
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Matt Douglas to view all their deals.
Browse Los Angeles multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93