Axos Bank Provides $46.3M Acquisition Loan For 113-Unit Multifamily Property In Los Angeles

The property at 2245 South Beverly Glen Boulevard in Los Angeles has been acquired in a closed transaction. The multi-family asset consists of 113 units and spans a total area of 121,415 square feet. The property was sold for $66,100,000.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $66,100,000
• Units: 113
• Square Footage: 121,415
• Address: 2245 South Beverly Glen Boulevard
• Market: Los Angeles

The loan for the acquisition was provided by Axos Bank. The landlord of the property is Deepak Mehta, Rohit Mehta, and Nataliya Mehta. The broker involved in the deal was Blake Rogers from Walker & Dunlop, while the mortgage broker was Tyler Bradford from Convoy Capital. The loan amount for the transaction was $46,270,000. It was an acquisition loan with a loan term of 70% loan-to-value (LTV), a floating rate adjustable-rate mortgage (ARM), and underwritten at market rents.