Gary Hartunian Acquires Multifamily Property In West San Gabriel Valley For $10M Loan From FP Credit Union

A multifamily property located at 5730 N. Willard Avenue in West San Gabriel Valley has recently undergone a closed transaction. The property spans approximately 38,996 square feet and consists of 62 units. The loan amount for the transaction was $10,000,000, with a fixed interest rate of 3.50% for a 5-year term. The loan-to-value ratio (LTV) was 68%, and the prepayment terms were structured as 3-3-2-1%. Notably, there were no COVID-19 reserves required for this loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Address: 5730 N. Willard Avenue
• Market: West San Gabriel Valley

The deal was facilitated by Gianni Novo and Whitney Deutsch as brokers. The lender for the transaction was FP Credit Union, and the landlord overseeing the property is Gary Hartunian. The loan image was provided by Gianni Novo, Whitney Deutsch, and Devin Wash.