facebook
Traded Co logo
Submit

JH Snyder Secures $117M Construction Financing For The Residences At Wilshire Curson

Property Image
FINANCED
$117,000,000
Jackie Tran
Steven Edelstein

California

See Similar Deals
MultiFamily4,942,596 SF
Financed 07/27/2018
the dealplayerscompscontact
Property Image
FINANCED

JH Snyder Secures $117M Construction Financing For The Residences At Wilshire Curson

640 South Curson Avenue, Central LA, Los Angeles, CA, USA & 640 South Curson Avenue, Central LA, Los Angeles, CA, USA

See Similar Deals
MultiFamily4,942,596 SF
Financed 07/27/2018
Jackie Tran
Steven Edelstein
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$23
Total Square Footage:4,942,596 SF
Transaction Type:Loan

The Residences at Wilshire Curson, located at 640 South Curson Avenue in Miracle Mile, has been involved in a recent closed property transaction. The property is set to be a state-of-the-art, 20-story, 285-unit apartment building that will feature a range of amenities including a gym, conference area, rooftop pool, and clubhouse.

Summary of Transaction Details

  • Property Type: Apartment Building
  • Transaction Amount: $117M
  • Financing Type: Construction Loan
  • Lender: Capital Source
  • Sponsor: JH Snyder
  • Broker: Meridian Capital Group - Steve Edelstein & Seth Grossman

Capital Source provided a five-year non-recourse loan for the Residences at Wilshire Curson, with extension options and full-term interest-only payments. The financing was facilitated by Meridian Capital Group, with brokers Steve Edelstein and Seth Grossman representing the deal.

Players

Jackie Tran
Meridian Capital Group
Jackie Tran
5 deals$755.6M volume(858) 964-1261
BROKER
Steven Edelstein
Filler Capital
Steven Edelstein
14 deals$421M volume
BROKER
CS
Capital Source
LENDER

Details

FINANCED
IMAGE: Steve Edelstein and Seth Grossman TYPE OF FINANCING: Construction PROPERTY: The Residences at Wilshire Curson - 640 South Curson Avenue DISTRICT: MIRACLE MILE LENDER: Capital Source SPONSOR: JH Snyder BROKER: @Meridian.Capital.Group - Steve Edelstein & Seth Grossman LOAN DETAILS: five-year non-recourse loan, which features extension options and full-term interest-only payments PROPERTY DETAILS/OTHER: The Residences at Wilshire Curson will be a state-of-the-art, 20-story, 285-unit apartment building that sits atop a two-story parking garage. Its amenities are set to include a gym, a conference area, a rooftop pool and a clubhouse. AMOUNT: $117M

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$117,000,000.00

Monthly NOI$780,000.00
Monthly Debt Service$739,519.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00