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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
09/01/2018
Property Type
Property City
Los Angeles
Property State
CA
Loan Term (months)
18
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
80%
Number of Units
24
Interest Rate
8.5%
Deal Summary
Carlyle Capital, a private money lender, funded a $6.5 1st lien position million multi-family commercial loan in Los Angeles, California. The Borrower needed the funding for a 24-unit building in downtown LA that was being rented out below market value. The owner used the funding for a “cash for keys” approach to remove the current tenants in order to renovate the property and re-lease the units at current market value. This was a traditional value ad play for the Borrower that Carlyle Capital was able to assist on. The interest rate was 8.5% and the loan-to-cost was 80%. The loan term was 18 months. This bridge loan was funded in September 2018.
Funded By
Carlyle Capital
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