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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
12/08/2018
Property Type
Property City
Hollywood
Property State
CA
Loan Term (months)
24
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
65%
Rate Type
Fixed
Number of Units
12
Borrower's Plan
Lease Property
Exit Strategy
Sale
Interest Rate
7.99%
Deal Summary
Archway Fund, a direct private lender based in LA, provided a $2.2M non-recourse acquisition bridge loan secured by a 12-unit multi-family property located in Hollywood, California. The Sponsor required private money to accommodate debt service shortfall and funds for renovation costs. We funded in just 10 days. The interest rate is 7.99% fixed for a 24-month term. The loan-to-value is 65% and the Sponsor did not have to personally guarantee the loan. The exit strategy is to lease up and sell once the property is fully stabilized. This commercial value add loan was funded in December 2018.
Funded By
Archway Capital
National Non-Recourse Bridge Loan & Equity Provider