Beverly Hills, CA
Archway Fund closed a $9.39M non-recourse bridge loan for the purchase of three adjacent multi-family properties in Beverly Hills, Los Angeles County. The sponsor needed a recapitilization loan to capture substantial tax benefits along with renovation funds including $750,000 held for rehab costs. The interest rate is 8% fixed for a 24-month term. The exit strategy is to refinance with a traditional lender once renovations are complete and the property is stabilized. This bridge loan was funded in December 2018.