Continental Partners Provides $2.812M Bridge Loan For Multifamily Project In Los Angeles

The multifamily property located at 509-513 Douglas Street in Los Angeles spans 5,727 square feet. The asset consists of 12 units and served as the focus of a recent transaction involving a bridge loan. The lender, Continental Partners, provided a loan amount of $2,812,000 to the landlord, Darryl White, for the completion of the property project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,812,000
• Units: 12
• Square Footage: 5,727
• Address: 509-513 Douglas Street
• Market: Los Angeles
• Lender: Continental Partners
• Lender's Rep: JM Grimaldi & Dave Brelian - Continental Partners

The bridge loan was successfully secured by the Sponsor to aid in the completion of the 12-unit project near downtown Los Angeles. Furthermore, the loan, structured at 93% of the total project cost, aims to deliver more affordable housing units to the greater Los Angeles area. The additional funds accessible upon stabilization provide additional support for the project's success.