Nick Nikkhoo Secures $6.86 Million Construction Completion Loan For Multifamily Asset In Los Angeles

The property asset involved is a multifamily building located at 214 South Rampart Boulevard in Los Angeles. It contains 24 units and offers a total square footage of 14,500. The transaction was secured with a loan amount of $6,860,000 under a construction completion loan type. The loan was arranged with terms at 75% loan-to-cost (LTC) and was closed in 10 days.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,860,000
• Units: 24
• Square Footage: 14,500
• Loan Type: Construction Completion
• Loan Terms: 75% LTC, Closed in 10 Days
• Address: 214 South Rampart Boulevard
• Market: Los Angeles
• Landlord: Nick Nikkhoo
• Broker: Brian Asheghian - Convoy Capital

Brian Asheghian from Convoy Capital represents Nick Nikkhoo in this transaction, facilitating the loan agreement for the property located in Los Angeles. This deal highlights the collaboration between the landlord and the broker in securing the financing. The rapid closing within 10 days indicates the efficiency in executing the transaction.