Continental Partners Inc. Refinances Multifamily Property On Hazeltine Avenue In Sherman Oaks For $4.8M

An 18-unit multifamily property located at 5008 Hazeltine Avenue in Sherman Oaks has recently undergone a loan refinancing transaction. The property spans 19,510 square feet and is situated in a desirable market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,800,000
• Loan Type: Refinance
• Loan Terms: 5 Year Fixed at 5.375% with 1 Year of IO and Non-Recourse with a 3,2,1% Prepay

Continental Partners Inc. served as the lender in this transaction. Brian Asheghian of Continental Partners represented the borrower as the broker. The loan amount secured for this refinancing deal was $4,800,000, providing the borrower with favorable terms, including a 5-year fixed interest rate of 5.375% and 1 year of interest-only payments. The loan is non-recourse and features a prepayment penalty schedule of 3%, 2%, and 1%.