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Clay Goldthwait And Hiren Naik Of Bolour Associates Provide $6 Million Loan For Retail Renovation In Los Angeles

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FINANCED
$6,000,000

California

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Retail8,255 SF
Financed 01/16/2025
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Property Image
FINANCED

Clay Goldthwait And Hiren Naik Of Bolour Associates Provide $6 Million Loan For Retail Renovation In Los Angeles

5901 Melrose Avenue

See Similar Deals
Retail8,255 SF
Financed 01/16/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$726
Total Square Footage:8,255 SF
Transaction Type:Loan

The property involved in the transaction is a retail asset located at 5901 Melrose Avenue in the Los Angeles market, with a total square footage of 8,255. A loan amount of $6,000,000 was secured for repositioning this retail space. The loan is structured with a term of 18 months.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $6,000,000
  • Lender: Clay Goldthwait & Hiren Naik - Bolour Associates, Inc.
  • Broker: David Sarnoff - PSRS
  • Loan Type: Repositioning
  • Loan Terms: 18 Months

Clay Goldthwait and Hiren Naik of Bolour Associates, Inc. facilitated the lending process, leveraging their development expertise to evaluate and fund the renovation project quickly. David Sarnoff acted as the broker for the transaction, ensuring the effective execution of the deal.

Players

David Sarnoff
PSRS- Pacific Southwest Realty Services
David Sarnoff
2 deals$33M volume(310) 440-2311
BROKER
Bolour Associates
Bolour Associates
LENDER

Details

FINANCED
IMAGE: Clay Goldthwait, Hiren Naik & David Sarnoff DATE: 01/16/2025 ADDRESS: 5901 Melrose Avenue MARKET: Los Angeles ASSET TYPE: Retail ~ SF: 8,255 LENDER: Clay Goldthwait & Hiren Naik - Bolour Associates, Inc. (@Bolour_CRE) BROKER: David Sarnoff (@DSmortgagebanker) - PSRS (@PSRSLA) LOAN AMOUNT: $6,000,000 LOAN TYPE: Repositioning LOAN TERMS: 18 Months NOTE FROM BROKER: Given BOLOUR’s development expertise, we were able to quickly evaluate and fund this retail renovation on Melrose Avenue, one of LA’s strongest retail corridors. BOLOUR can provide expedited closings and surety of execution for value-add projects. Contact Clay Goldthwait at ☎️ 323-677-0550 ext.121, 📧 [email protected], or visit bolourassociates.com/lending/ for more on how BOLOUR can fulfill your lending needs. BOLOUR is an asset-based bridge lender specializing in urban infill primary & secondary markets. BOLOUR draws from our experience in investment & development to tackle complicated private lending deals. We can finance up to 80% LTV, loan term up to three years, loan amount from $4 million to $30 million, & interest rates starting at 8.00%.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,000,000.00

Monthly NOI$40,000.00
Monthly Debt Service$37,924.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00