Logan Investments Provides $1.5M Loan For Cliffwood Development Partners Note
306 N Cliffwood Ave, Los Angeles, CA, USA
$1,500,000
$431/SF
Building Size
3,477 SF
Asset Type
Other
Closing
Apr 7, 2021
AI
Cliffwood Development Partners has secured a $1.5 million loan from Logan Investments for the property located at 306 N. Cliffwood Ave. in Los Angeles. The loan is a 2nd trust deed, positioned behind a $12 million 1st Mid Construction loan. Notably, no appraisal was required for this loan. The interest rate for the loan is 8.95% over a 5-month term.
Summary of transaction details
- Property Type: Note
- Transaction Amount: $1,500,000
- Lender: Logan Investments ([email protected])
- Landlord/Borrower: Cliffwood Development Partners
- Broker: Ron Sentchuk
In securing this loan, Cliffwood Development Partners will be able to continue their construction project without delay or funding shortages. The loan from Logan Investments, represented by broker Ron Sentchuk, demonstrates their commitment to providing hard money solutions for contractors and homeowners in need.
Players
Los Angeles Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93