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5020 Woodman Ave, Sherman O...

Updated Mar 11, 2025

Continental Partners Provides $17.7M Construction To Perm Loan For Sherman Oaks Multifamily Development
FINANCEDMultiFamily

Continental Partners Provides $17.7M Construction To Perm Loan For Sherman Oaks Multifamily Development

5020 Woodman Ave, Sherman Oaks, CA, USA

$17,700,000

$393/SF

Building Size

44,934 SF

Asset Type

MultiFamily

Closing

May 31, 2020

About this deal

AI

Continental Partners provided a 7-year fixed construction to permanent loan worth $17,700,000 for the development of a multifamily property located at 5020 Woodman Ave in Sherman Oaks. The loan amount represents 70% of the total cost, with an interest rate of 4.00%. The construction period spans 30 months and then transitions into a permanent loan with a 25 basis point reduction at 3.75%. Once the multifamily property is stabilized, the lender will conduct a reappraisal and offer the borrower the opportunity to cash out and add additional proceeds to the loan amount.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $17,700,000
  • Lender: Continental Partners
  • Broker: Brian Asheghian @BAsheghian
  • Date: 05/31/2021
  • Address: 5020 Woodman Ave
  • Market: Sherman Oaks

Brian Asheghian from BAsheghian represented the buyer in this loan transaction. No additional details about other parties involved were provided in the context.

On the Map

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$17,700,000

$393/SF

MultiFamily

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Players

Brian Asheghian

Convoy Capital

Broker

$406M

vol

58 deals

Broker
Continental Partners
Continental PartnersBrokerage
Continental Partners
Continental PartnersLender
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Sherman Oaks MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $393 per square foot on a published $17.7M for 44,934 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.90%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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