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2215 Hollywood Boulevard

Calta Group Secures $60M Construction Loan For Multifamily Development At 2215 Hollywood Boulevard
FINANCEDMultiFamily

Calta Group Secures $60M Construction Loan For Multifamily Development At 2215 Hollywood Boulevard

2215 Hollywood Boulevard

$60,000,000

Building Size

Asset Type

MultiFamily

Closing

Apr 17, 2023

AI

The property asset involved in the transaction is a multifamily building located at 2215 Hollywood Boulevard in the Hollywood market. The transaction includes a construction loan amounting to $60,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $60,000,000
  • Lender: Jon Gitman & Alex Horn - BridgeInvest
  • Landlord: Calta Group
  • Brokers: Keegan Burger & David Larson - Concord Summit Capital
  • Loan Type: Construction

The deal features key players such as Jon Gitman and Alex Horn serving as the lender through BridgeInvest. The involvement of Calta Group as the landlord highlights the commitment to developing multifamily housing in the area. Brokers Keegan Burger and David Larson from Concord Summit Capital facilitated the transaction, ensuring a smooth process for all parties involved.

Players

David Larson

Concord Summit Capital

Broker

$501.5M

vol

8 deals

Broker
BridgeInvest
BridgeInvestLender

Hollywood MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93