Aaron Van Schaik Secures $4.05 Million Loan For Silver Lake Multifamily Property In Los Angeles

The transaction involved a multifamily property located in the Silver Lake neighborhood of Los Angeles, California. The asset comprises 9 units and encompasses a total square footage of 6,502. A permanent loan was secured for the property amounting to $4,050,000 with an interest rate of 6.15%. The loan's terms include a 3-year fixed period followed by a 30-year term, with the initial 3 years being interest-only. The prepayment penalty structure is set at 3,1,1, with the loan being non-recourse.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,050,000
• Units: 9
• Square Footage: 6,502
• Landlord: Aaron Van Schaik
• Broker Representatives: Jason Moyal, Max B. Mellman & Drew Rands - Max Benjamin Partners
• Loan Type: Permanent financing
• Interest Rate: 6.15%
• Term: 3 year fixed / 30 year term
• Amortization: 3 Years Interest Only, 30 Years thereafter
• Prepayment Penalty: 3,1,1 Open
• Guaranty: Non-recourse

The principals at Max Benjamin Partners, represented by Jason Moyal, Max B. Mellman, and Drew Rands, facilitated the loan closing for this newly built multifamily property, which features innovative mass timber construction. Designed to prioritize occupant wellbeing, the property includes amenities such as filtered air and water, large communal garden spaces, and open-air walkways promoting a healthy living environment.