Optimus Properties Refinances $13.8M Multifamily Portfolio In West Hollywood

Optimus Properties, represented by Shahin Yazdi and Jonathan Lee, recently secured a loan of $13,777,000 for the refinance of a 67-unit multifamily portfolio in West Hollywood. The property, located at 526 North Orlando Avenue, is situated in a desirable market, making it an attractive investment opportunity. The loan terms include a fixed rate of 3.35% for a 5-year term, with a 5-year amortization period and interest-only payments. The loan-to-value ratio ranges from 60% to 65%, and the debt service coverage ratio is set at 1.25x. The prepayment terms are structured as 3, 2, 1.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,777,000
• Market: West Hollywood
• Address: 526 North Orlando Avenue
• Landlord: Optimus Properties
• Loan Amount: $13,777,000
• Terms: Rate: 3.35%, Fixed Term: 5 Years, Amortization: 5 Years, Interest Only, Loan-to-Value: 60% to 65%, DSCR: 1.25x, Prepayment: 3,2,1
• Brokers: Shahin Yazdi & Jonathan Lee

The transaction was facilitated by the YazLee group, with Shahin Yazdi serving as their representative. For further inquiries, Shahin Yazdi can be reached at [email protected] or (310) 867-2954.