Continental Partners Provides $17.7M Construction To Perm Loan For Sherman Oaks Multifamily Development
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This MultiFamily property located in CA received a loan of $17,700,000 almost 4 years ago. The broker of the deal was Brian Asheghian
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- Location5020 Woodman Ave, Sherman Oaks, CA, USA
- Loan Value$17,700,000
- Asset TypeMultiFamily
- Parties1 Broker, 1 Agency, 1 Lender
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Deal Summary
LOAN
IMAGE: Brian Asheghian
DATE: 05/31/2021
ADDRESS: 5020 Woodman Ave.
MARKET: Sherman Oaks
ASSET TYPE: Multifamily
LENDER: Continental Partners
BROKER: Brian Asheghian @BAsheghian
LOAN AMOUNT: $17,700,000
LOAN TERMS: 7 Year Fixed Construction to Perm Loan at 70% of Total Cost at 4.00%
NOTES: This was a 7 year fixed construction to permanent loan for the development of a 51 unit multifamily property. The construction period is for 30 months and rolls into a permanent loan with a 25 bsp reduction at 3.75%. Once the asset is stabilized, the lender will reappraise the asset and give the borrower an opportunity to cash out and add additional proceeds to the loan amount.
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5020 Woodman Avenue
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