Eddie Salem Of Capital Partners Connect Secures $2.4M Refinance Loan On Los Angeles Property

The property involved in the transaction is a single-family home located at 2621 Veteran Avenue in the Los Angeles market. The asset spans a total of 2,775 square feet. The transaction relates to a refinance loan amounting to $2,400,000.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $2,400,000
• Loan Type: Refinance
• Loan Terms: 12 months
• Lender's Representative: Eddie Salem - Capital Partners Connect

Eddie Salem of Capital Partners Connect represents the lender in this transaction. Last year, he facilitated a construction loan for the investor to build two ADU units behind the main home. After the construction was completed, the investor returned to refinance, allowing Eddie to secure a loan that not only pays off the construction loan but also includes closing costs and covers interest payments for one year.