Continental Partners Provides $4.3M Construction To Perm Loan For Multifamily Asset On Virginia Avenue In East Hollywood
FINANCED
$4,300,000
California
See Similar DealsMultiFamily7,500 SF
Financed 07/09/2020
FINANCED
Continental Partners Provides $4.3M Construction To Perm Loan For Multifamily Asset On Virginia Avenue In East Hollywood
5533 Virginia Avenue, East Hollywood, Los Angeles, CA 90038, USA
See Similar DealsMultiFamily7,500 SF
Financed 07/09/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$573
Total Square Footage:7,500 SF
Transaction Type:Loan
The multifamily property located at 5533 Virginia Ave in East Hollywood has been involved in a recent transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,300,000
- Date: 07/09/2021
- Address: 5533 Virginia Ave
- Market: East Hollywood
The lender for this transaction was Continental Partners, and the landlord is Joseph Simantoub. The loan was facilitated by Brian Asheghian and JM Grimaldi, who represented the parties involved.
The loan amount for this transaction was $4,300,000, with the loan terms being a 10 Year Fixed Construction to Perm Loan at 70% of Cost at 3.95% interest rate.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,300,000.00
Monthly NOI$28,666.67
Monthly Debt Service$27,178.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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