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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
12/12/2018
Property Type
Multifamily
Property City
Beverly Hills
Property State
CA
Loan Term (months)
24
Lien Type
1st Mortgage
Payment Type
Interest Only
Renovation Budget
$750,000
Rate Type
Fixed
Interest Rate
8%
Deal Summary
Archway Fund, a direct private lender based in LA, provided a $9.39M non-recourse bridge loan for the purchase of three adjacent multi-family properties in Beverly Hills, Los Angeles County, California. 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.
Funded By
Archway Capital
National Non-Recourse Bridge Loan & Equity Provider