Updated Oct 29, 2024
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
$117,000,000
$23/SF
Building Size
1,298 SF
Asset Type
MultiFamily
Closing
Jul 26, 2018
About this deal
AI
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
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Jackie Tran to view all their deals.
Browse California multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93