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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
08/02/2018
Property Type
Multifamily
Property City
Hollywood
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Exit Strategy
Refinance
Deal Summary
Archway Fund, a direct private lender based in LA, provided a $3.5MM 1st lien position acquisition loan secured by two multi-family properties located in Hollywood, California. The Sponsor needed private money to secure two partially vacant multi-family properties that did not meet traditional financing income requirements. Their exit strategy is to refinance with a bank once the property is fully occupied and stabilized at market rents. This CRE bridge loan was funded in August 2018.
Funded By
Archway Capital
National Non-Recourse Bridge Loan & Equity Provider