Mez Investments Secures $8 Million Refinance Loan For 40-Unit Multifamily Property In North Hollywood

The property asset involved in the transaction is located at 4651 Cahuenga Boulevard in North Hollywood. This multifamily asset consists of 40 units and has a total square footage of 38,043. The property was acquired by Mez Investments for $9.6 million in an all-cash deal and has 36% vacancy at the time of sale.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,000,000
• Loan Type: Refinance
• Landlord: Mez Investments
• Debt Advisor: Keaton Yellin - JLL

Keaton Yellin, representing JLL as the debt advisor, facilitated securing an $8.0 million non-recourse fixed-rate loan within four months of the property's purchase. The completion of unit turns was also part of the strategy to enhance the property's performance post-acquisition.