A multifamily property located at 8558 Holloway Drive in West Hollywood has recently undergone a closed transaction. The property consists of 26 units and spans a total area of 34,341 square feet. The transaction involved a bridge loan provided by Continental Partners Inc for a loan amount of $6,160,000. The loan terms specified a financing of 70% of the purchase price, with a fixed interest rate of 7.65% for 3 years. The loan also included a period of 18 months of interest-only payments and a prepayment penalty of 3% in the first year, 2% in the second year, and 1% in the third year.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,160,000
• Units: 26
• Square Footage: 34,341
• Address: 8558 Holloway Drive
• Market: West Hollywood

Brian Asheghian from Continental Partners represented both the lender, Continental Partners Inc, and acted as the broker in this transaction. Asheghian played a key role in facilitating this bridge loan deal.