Continental Partners Inc. Provides $34M Loan For Multifamily Property In North Hollywood | 11011 Otsego Street | Mitch Paskover, Brian Asheghian | MultiFamily | Loan

Summary

Loan

CALIFORNIA

MultiFamily

122,913 sqft

The multifamily property located at 11011 Otsego Street in North Hollywood has been involved in a recent transaction. The property has a total square footage of 122,913 and consists of 144 units. The transaction took place on September 6, 2019.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $34,000,000
Loan Terms: 20 Year Fixed, 30 Year Amort, 3.57%, Non-Recourse
Lender: Continental Partners Inc.
Landlord: The Ivy at Noho, LLC
Brokers: Brian Asheghian - Basheghian, Mitch Paskover - mitch8181

The financing for this transaction was arranged through Continental Partners Inc. The lender provided a loan of $34,000,000 with a fixed term of 20 years and an amortization period of 30 years. The loan has a non-recourse feature and carries an interest rate of 3.57%. The funding was secured based on a TCO at stabilization, without the need for any collection history.

Players

All
4

Agents
2
Agencies
2

Details

Deal Summary

FINANCED

IMAGE: Brian Asheghian @Basheghian & Mitch Paskover @mitch8181 DATE: 09/06/2019 ADDRESS: 11011 Otsego Street MARKET: North Hollywood ASSET TYPE: Multifamily LENDER: Continental Partners Inc. LANDLORD: The Ivy at Noho, LLC BROKERS: Brian Asheghian, Mitch Paskover LOAN AMOUNT: $34,000,000 LOAN TERMS: 20 Year Fixed, 30 Year Amort, 3.57%, Non-Recourse SF: 122,913 UNITS: 144LOAN AMOUNT: $34,000,000 LOAN TERMS: 20 Year Fixed, 30 Year Amort, 3.57%, Non-Recourse SF: 122,913 UNITS: 144 NOTES: Funded off a TCO at stabilization without any collection history required.

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Address11011 Otsego Street

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