Partnership recapitalization bridge loan in Mar Vista, CA

 

Prized development parcels on Westside of Los Angeles

 

  • $8,280,000
  •  2 year floating rate bridge loan at 6% over 30 day Libor enabling sponsor to buyout JV Equity partner
  •  High leverage 75% loan to “future entitlement” value on two Class C office/retail buildings with month to month tenancy.
  • 24,000 sf. of retail & office to be demolished for Class A multifamily
  • Takeout of local bank with Institutional bridge lender