Continental Partners Provides $9.04M Loan For Development Site In Valley Village
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This Development Site property located in CA received a loan of $9,042,500 over 4 years ago. The brokers of the deal were JM Grimaldi and Brian Asheghian
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- Location12301 West Magnolia Boulevard, Valley Village, CA, USA
- Loan Value$9,042,500
- Asset TypeDevelopment Site
- Parties2 Brokers, 2 Agencies
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Deal Summary
LOAN
IMAGE: Brian Asheghian @basheghian & JM Grimaldi @watchtog
DATE: 12/13/2019
ADDRESS: 12301 W Magnolia Blvd
MARKET: Valley Village
ASSET TYPE: Development Site
LENDER: Continental Partners Inc.
LANDLORD: Studio One LLC
BROKERS: Brian Asheghian, JM Grimaldi
LOAN AMOUNT: $9,042,500
LOAN TERMS: 7 Year Fixed Construction to Perm Loan at an interest rate of 3.85% at 70% of cost
SF: 35,010
UNITS: 26
NOTES: 7 year fixed construction to perm loan at a rate of 3.85% at 70% of cost for a 26 unit development project in Valley Village. Construction period is for 30 months (extension options included) and automatically rolls into a permanent loan at the same rate which is fixed throughout the entire 7 year period.
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12301 West Magnolia Boulevard
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