Ron Gonen Of EGC Real Estate Secures $21.5 Million Bridge Loan For Kanvas Apartments In Koreatown

Kanvas Apartments is a 67-unit Class-A multifamily project located at 905 South Vermont Avenue in the Koreatown area of Los Angeles. The property has been refinanced with a bridge loan amounting to $21,500,000, which facilitates improved financing through a three-year, non-recourse structure. This loan provides two 12-month extensions and reduces previous borrowing costs significantly.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $21,500,000
• Loan Type: Bridge
• Loan Terms: three-year, non-recourse
• Landlord: Ron Gonen - EGC Real Estate
• Brokers: Andrew Marshall, Ivan Viramontes, Kim Bishop, Tom Sherlock, Lauren Maehler - Talonvest Capital

Talonvest Capital played a crucial role in this transaction by arranging the bridge loan to refinance the property on behalf of EGC Real Estate, represented by landlord Ron Gonen. The brokers involved provided extensive expertise and support throughout the loan arrangement process, ensuring favorable terms for the refinancing strategy.