Venice, CA

$7,400,000

Multifamily

Refinance

03/30/2018
Transaction by
Archway Fund
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.