28-Unit Multi-Family Construction
Advisors:
Chase Calderon
Location: Los Angeles, California
Lender type: Fund
Property type: Multi-Family
Transaction type: Construction
Loan amount: $15,310,000
TRANSACTION DESCRIPTION
Slatt Capital was awarded the assignment to source the construction loan for the completion of this ground up luxury multifamily development in Hollywood. The property was 60% complete with an inflating budget, and the existing bank lender was becoming increasingly difficult with approving draws.
Our knowledge and deep relationships with reputable construction lenders contributed to the successful execution of this 75% LTC, non-recourse financing for the client with zero fresh equity required. The loan will carry the project through to CofO, then lease-up to stabilization.
