Bob Kennedy And Chris Aiello Of Six Peak Capital Refinance Student Housing In Los Angeles For $13.65M

The asset involved in this transaction is a newly built 33-unit student housing property located at 8833 Reading Avenue, Los Angeles, CA. It encompasses an area of 0.32 acres and is currently 88% occupied, with a significant portion of its residents being students. The bridge loan secured amounts to $13,650,000, facilitating refinancing for the property while replacing the original construction loan.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $13,650,000
• Units: 33
• Acres: 0.32
• Market: Los Angeles, CA
• Landlord: Bob Kennedy & Chris Aiello - Six Peak Capital, Raj Menon - Grandview Partners
• Broker: Zachary Streit - Priority Capital Advisory
• Loan Type: Bridge
• Occupancy Rate: 88%

The deal involved key stakeholders including Bob Kennedy and Chris Aiello from Six Peak Capital, Raj Menon of Grandview Partners, and broker Zachary Streit from Priority Capital Advisory. The joint venture develops the property, and the bridge financing offers owners the flexibility to navigate through lease-up and stabilization phases effectively.