Meridian Capital Group Arranges $10M Refinance Loan For 111-Unit Multifamily Property In Los Angeles

The multifamily property located at 7000 Hawthorn Avenue in Los Angeles was recently involved in a loan transaction. The borrower, Fred Leeds Properties, sought to refinance their existing loan on the property. The property consists of 111 units and is owned by Fred Leeds and Andrew Hirsch.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Loan Type: Refinance
• Loan Terms: 10 Years Fixed at 5.35% - 30 Year Amortization
• Landlord: Fred Leeds Properties - Fred Leeds & Andrew Hirsch
• Brokers: David Oheb, Don Aynesazan & Dorian Aftalion - Meridian Capital Group

The loan amount for this transaction was $10,000,000. The loan was structured as a refinance with a fixed interest rate of 5.35% for 10 years and a 30-year amortization schedule. Meridian Capital Group, represented by brokers David Oheb, Don Aynesazan, and Dorian Aftalion, successfully negotiated the loan on behalf of the borrower. Their strategic approach involved a 6-month forward rate-lock in June, allowing the borrower to secure a lower interest rate ahead of expected rate increases. This approach also ensured a seamless transition from the existing loan, which had a prepayment penalty of $100,000.

For more information on how Meridian can assist with financing and add value to your portfolio, please contact:

• Don Aynesazan - 213-663-3382 - [email protected]
• David Oheb - 212-612-0193 - [email protected]