Hollywood, CA

$2,200,000

Multifamily

Purchase

12/08/2018
Transaction by
Archway Fund
Archway Fund 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.