Project Description
Purchase of a Multifamily Apartment in Santa Monica, CA
Loan Amount: $1,635,000
Loan Type: Bridge
Challenge
The subject property was a 9-unit Multifamily Apartment located between Hollywood and East Hollywood in Los Angeles, CA.
· 4 of the 9 units were currently vacant
· Current rental income could not service the debt
Solution
Due to:
· Strong Location
· Financial contribution from Sponsor’s global income
Grand Pacific was able to provide:
· $1.6M Bridge Loan
· 64% LTV
Contact Us |
Past Loans |
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(323) 780-0855 |