Meridian Capital Group Secures $22.8M Loan For Downtown Los Angeles Multifamily Development

A multifamily development located in Downtown Los Angeles has secured a ground up construction financing loan. The asset spans a total square footage of 37,400. The loan was provided by Mizrahi Tefahot Bank of Israel as the senior lender, along with Nuveen Green Capital participating as the C-PACE lender. The loan amount is $22,800,000, representing 78% of the total loan to cost, which includes the land lift. The financing terms feature a blended starting rate of 9.15%.

Summary of transaction details

• Property Type: Multifamily Development
• Transaction Amount: $22,800,000
• Lender: Mizrahi Tefahot Bank of Israel (Senior), Nuveen Green Capital (C-PACE)
• Brokers: David Oheb & Dorian Aftalion - Meridian Capital Group
• Loan Type: Multifamily Ground Up Construction Financing
• Loan Terms: 78% Loan To Cost Including Land Lift, Blended Starting Rate of 9.15%

The financing transaction was facilitated by David Oheb and Dorian Aftalion from Meridian Capital Group, who served as the brokers in the deal. For more information on how Meridian can assist with financing ground up construction projects, please contact David Oheb at 212-612-0193 or via email at [email protected].