Hakimian Capital Provides $8M Acquisition Loan For Multifamily Property On West Broadway | 315 West Broadway | Hakimian Capital | MultiFamily | Loan

Summary

Loan

NEW YORK

MultiFamily

29,820 sqft

The acquisition of a multifamily property located at 315 West Broadway in Long Beach was recently funded by Hakimian Capital. The property has a total square footage of 29,820 and was acquired by a repeat client of Hakimian Capital. The buyer will have the opportunity to renovate units immediately as more than half of the units were delivered vacant.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $8,000,000
Date: 05/31/2023
Market: Long Beach
Lender: Hakimian Capital - Michael Hakimian, Daniel Nadri & Sammy Hakimian
Loan Type: Acquisition

The loan for this acquisition was provided by Hakimian Capital, with Michael Hakimian, Daniel Nadri, and Sammy Hakimian representing the lender. The term sheet for the loan was signed on May 24th, and the loan was closed and funded on May 31st, allowing the buyer to move forward with their renovation plans.

Players

All
1

Lenders
1

Hakimian Capital

Details

Deal Summary

FINANCED

IMAGE: Michael Hakimian, Daniel Nadri & Sammy Hakimian DATE: 05/31/2023 ADDRESS: 315 West Broadway MARKET: Long Beach ASSET TYPE: Multifamily ~ SF: 29,820 LENDER: Hakimian Capital (@HakimianCapital) - Michael Hakimian (@MichaelHakimian), Daniel Nadri & Sammy Hakimian (@SammyHak) LOAN AMOUNT: $8,000,000 LOAN TYPE: Acquisition NOTE FROM LENDER: Hakimian Capital provided a time-of-the-essence acquisition loan for a repeat client. The property was being acquired with more than half of the units being delivered vacant, allowing the buyer to begin renovating units immediately. Term sheet was signed on May 24th - loan was closed and funded on May 31st.

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Address315 West Broadway

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