Michael Shlomof Of Onward Capital Secures $5.19 Million Refinance Loan For Multifamily Properties

The assets involved in this transaction comprise two multifamily properties located at 1614 South Sycamore Avenue and 10819 Morrison Street, situated in the Los Angeles and North Hollywood markets. The properties feature a total of 10 units and encompass a square footage of 20,400. The loan amount for this refinancing deal is $5,190,000, secured at a low 6% range fixed rate for 3 years, with non-recourse terms, full-term interest-only payments, and a flexible prepayment penalty.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,190,000
• Units: 10
• Square Footage: 20,400
• Loan Type: Refinance
• Loan Terms: Low 6% Range Fixed for 3 Years, Non-Recourse, Full-Term Interest Only, Flexible Prepayment Penalty
• Landlord: Michael Shlomof – Onward Capital
• Broker Representatives: David Oheb, Dorian Aftalion & Max Jacobson - Meridian Capital Group

Michael Shlomof, representing Onward Capital, is involved in seeking new development and distressed opportunities throughout Los Angeles. The broker representatives from Meridian Capital Group are actively arranging financing for various property types, including multifamily, mixed-use, retail, industrial, office, specialty-use, and ground-up construction across California, New York, and nationally.