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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
03/30/2018
Property Type
Multifamily
Property City
Venice
Property State
CA
Interest Rate
%
Origination Points
%
Deal Summary
Archway Fund financed a $7.4M refinance loan secured by an 18,350 square foot multifamily property located in the Abbot Kinney neighborhood of Venice, California. Sponsor required $4M in cash out to fund another property. The exit is to secure traditional bank financing on the other property as soon as stabilized. Archway Fund financed the deal at 70% LTV, with a 24-month term, 8.0% Interest Only, no appraisal and the borrower did not have to personally guarantee the loan. This bridge loan was funded in March 2018.
Funded By
Archway Capital
National Non-Recourse Bridge Loan & Equity Provider