Preferred Bank Provides $33.8M Construction Loan For Multifamily Property Acquisition

The construction loan for a multifamily property in Los Angeles was recently secured at 1004 North Alfred Street. The property spans approximately 56,000 square feet, and Brennen Hakimian serves as the landlord.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $33,800,000
• Address: 1004 North Alfred Street
• Market: Los Angeles
• Lender: Preferred Bank
• Landlord: Brennen Hakimian
• Brokers: Steve Bram & Allison Higgins - George Smith Partners
• Loan Type: Construction Loan

The construction loan, totaling $33,800,000, was provided by Preferred Bank. Brennen Hakimian represents the landlord in this deal. The brokers handling the transaction are Steve Bram and Allison Higgins from George Smith Partners.