Hard Money Loan for Bel Air Mansion Rehab Project in Los Angeles, California

Carlyle Capital, a private money lender, funded a $7,000,000 1st lien position hard money loan on a $7.3 acquisition price for a stunning hilltop property in the Bel Air neighborhood of Los Angeles, California. This loan was orchestrated by the team at Carlyle Capital in order to bridge the equity gap that was needed along with the current debt on the property. Managing partners of Carlyle Capital, Mark Atalla, Andrew Abas, and Ryan Bacily plan to develop the property themselves alongside world-famous developer Ilan Sharone. Bravo TV’s Million Dollar Listing Los Angeles TV Star Josh Altman was the agent that represented both Carlyle Capital and the seller in this off-market opportunity. The unique site is a promontory lot in the heart of Bel Air, California with panoramic views from Downtown LA down to the Pacific Ocean, and has not been on the market for over 40 years. The team plans to construct a new 14,000-square-foot state-of-the-art estate on the lot with ultimate privacy and is expected to sell the property north of $30 million USD once complete. The Bravo TV team plans on featuring the process of the development on the new season of Million Dollar Listing Los Angeles in the upcoming year. This hard money loan was funded in December 2018.