Jonathan Stein Secures $6.45 Million Refinance Loan For Multifamily Asset In Los Angeles

The transaction involves a multifamily asset located at 1922 South Hobart Boulevard and 2622 South Hobart Boulevard in the Los Angeles market. The property comprises 32 units and has a total square footage of 27,423. The loan amount for the refinance is $6,450,000, with loan terms set at 5 years fixed interest rate with 3 years interest-only payments at 6.00%, along with a stepdown prepayment feature and non-recourse.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,450,000
• Borrower: Jonathan Stein
• Broker: Brian Asheghian - Convoy Capital
• Loan Type: Refinance
• Loan Terms: 5 Year Fixed with 3 Years Interest Only at 6.00% with Stepdown Prepay and Non-Recourse

The deal is represented by broker Brian Asheghian of Convoy Capital, who plays a significant role in facilitating the refinancing for borrower Jonathan Stein. The structured loan terms indicate a strategic financing approach tailored for the multifamily asset.