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Logan Investments Provides $1.5M Loan For Cliffwood Development Partners Note

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FINANCED
$1,500,000

California

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Other3,477 SF
Financed 04/08/2021
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Property Image
FINANCED

Logan Investments Provides $1.5M Loan For Cliffwood Development Partners Note

306 N Cliffwood Ave, Los Angeles, CA, USA

See Similar Deals
Other3,477 SF
Financed 04/08/2021
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Other
Price Per Square Foot:$431
Total Square Footage:3,477 SF
Transaction Type:Loan

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

Ron Sentchuk
Ron Sentchuk
16 deals$143.7M volume
BROKER
Logan Investments
Logan Investments
LENDER
Logan Investments
Logan Investments
LENDER

Details

FINANCED
IMAGE: Ron Sentchuk DATE: 04/08/2021 ADDRESS: 306 N. Cliffwood Ave. MARKET: Los Angeles ASSET TYPE: Note LENDER: Logan Investments (@Logan_Investments_) ([email protected]) LANDLORD/BARROWER: Cliffwood Development Partners BROKER: Ron Sentchuk (@RonLogan123) LOAN AMOUNT: $1,500,000 LOAN TERMS: 2nd trust deed for $1.5M behind a $12M 1st Mid Construction with NO appraisal! Yes! Why? Because we make hard money easy! If any of your contractors or homeowners are running short on funds WE CAN HELP!! Interest Rate 8.95% / 5 months

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,500,000.00

Monthly NOI$10,000.00
Monthly Debt Service$9,481.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00