Matt Parvizyar & David Parvizyar Of OBP Development Secure $5.68M Acquisition Loan In West Hollywood

The property asset involved in this transaction is a multifamily complex located at 626 N. Flores St, West Hollywood, CA. It consists of 19 units with a total square footage of 23,000. The acquisition loan for the property amounted to $5,678,745 based on a purchase price of $6,526,600.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,678,745
• Loan Type: Acquisition
• Loan Terms: 24 Month Term, Full Term Interest Only, Non-Recourse, 75% of Purchase / 70% Loan To Overall Project Cost
• Landlord: Matt Parvizyar & David Parvizyar – OBP Development
• Broker: David Oheb, Max Jacobson - Meridian Capital Group

The key individuals involved in this transaction include Matt Parvizyar and David Parvizyar from OBP Development, a firm specializing in real estate investments focused on multifamily and commercial properties in Los Angeles. David Oheb and Max Jacobson from Meridian Capital successfully arranged the acquisition loan, highlighting their expertise in providing tailored financing solutions as underscored by the landlord's note expressing satisfaction with their services.