Continental Partners Inc Provides $6.16M Bridge Loan For West Hollywood Multifamily Property
8558 Holloway Drive
34,341 SF
Summary
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.
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