Aram Bagramyan Of Forbix Capital Provides $650,000 Mezzanine Loan For Chicago Multifamily Property

The property involved in this transaction is a multifamily asset located at 4351 South Doctor Martin Luther King Jr Drive in Chicago. It comprises 22 units and has a total square footage of 41,000. The loan amount secured against this property is $650,000, categorized as a mezzanine loan with a loan term of 12 months and a CLTV of 70%. The debt yield is set at 9.50%, and the exit strategy involves transitioning to a Forbix HUD 223(f) loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $650,000
• Address: 4351 South Doctor Martin Luther King Jr Drive
• Market: Chicago
• Units: 22
• Square Footage: 41,000
• Lender: Aram Bagramyan - Forbix Capital
• Loan Type: Mezzanine
• Loan Terms: 12 Months
• CLTV: 70%
• Debt Yield: 9.50%
• Exit: Forbix HUD 223(f) loan

Aram Bagramyan serves as the lender in this transaction, representing Forbix Capital, which is a nationwide, full-service real estate lending, advisory, and investment firm located in Calabasas, California. This firm specializes in various real estate financing solutions tailored to meet the needs of property investors and owners.