Cathay Bank Provides $48.5M Bridge Loan For Multifamily Property In Glendale

Located at 520 North Central Avenue in Glendale, this multifamily property consists of 98 units with a total square footage of 124,925. The property was recently involved in a loan transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $48,500,000
• Market: Glendale
• Lender: Cathay Bank
• Brokers: Sharone Sabar & Stefen Chraghchian - Marcus & Millichap
• Loan Type: Bridge
• Loan Terms: 7.22% Rate, 3-YR Fixed, 57% LTV, 3/2/1 Prepay

The loan for this property was provided by Cathay Bank. The brokers involved in the transaction were Sharone Sabar and Stefen Chraghchian from Marcus & Millichap. The loan amount was $48,500,000 with a bridge loan type. The loan terms include a 7.22% interest rate, a 3-year fixed period, a 57% Loan-to-Value (LTV) ratio, and a prepayment penalty structure of 3/2/1.