Sunrise Mortgage & Investment Co. Provides $17M Bridge Loan For San Fernando Valley Office Property

11631 Victory Boulevard, North Hollywood, CA, USA

$17,000,000

$239/SF

Building Size

70,868 SF

Asset Type

Office

Closing

Aug 30, 2021

AI

Located in the San Fernando Valley, the property at 11631 & 11633 Victory Blvd. recently underwent a closed transaction. The office building spans an area of approximately 70,868 square feet, making it a significant asset in the area.

Summary of Transaction Details

Property Type: Office
Transaction Amount: $17,000,000
Market: San Fernando Valley
Lender: Sunrise Mortgage & Investment Co. - Correspondent Life Company

This transaction involved a bridge loan, with Sunrise Mortgage & Investment Co. acting as the lender. The loan was set at a fixed interest rate of 6.25% for 3 years, with interest-only payments and a 12-month payment reserve. The loan-to-value (LTV) ratio stood at 62%, providing favorable financing terms for the buyer.

Kamron F. Aghevli, representing Sunrise Mortgage & Investment Co., played a crucial role as the broker in this deal. Their expertise in securing financing options contributed to the successful completion of the transaction.

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