Continental Partners Provides $12.6M Loan For Development Site In Koreatown
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This Development Site property located in CA received a loan of $12,620,000 over 4 years ago. The brokers of the deal were JM Grimaldi and Brian Asheghian
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- Location1120 South Serrano Avenue, Los Angeles, CA, USA
- Loan Value$12,620,000
- Asset TypeDevelopment Site
- Parties2 Brokers, 2 Agencies
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Deal Summary
LOAN
IMAGE: Brian Asheghian @Basheghian & JM Grimaldi @watchtog
DATE: 11/01/2019
ADDRESS: 1120-1124 S Serrano Ave
MARKET: Koreatown
ASSET TYPE: Development Site
LENDER: Continental Partners
LANDLORD: Serrano Square LLC
BROKERS: Brian Asheghian, JM Grimaldi
LOAN AMOUNT: $12,620,000
LOAN TERMS: 10 Year Fixed, 4.10% rate at 75% LTC
SF: 36,840
UNITS: 52
NOTES: 10 year fixed construction to perm loan at a rate of 4.10% at 75% loan to cost for a 52 unit development project in Koreatown.
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1120-1124 South Serrano Avenue
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