Luxury Condominium; Beverly Hills Adjacent
Location: Beverly Hills Adjacent, California
Property type: Luxury Condominiums
Transaction type: Refinance
Loan amount: $4,200,000
Rate: 6.40% Fixed, Interest Only
Term: 1 Year
LTV: 63%
Prepayment: None
Guaranty: Non-Recourse
Lender Fee: 1%
TRANSACTION DESCRIPTION
Team Hachem arranged a $4,200,000 loan collateralized by a three-story, luxury condominium located adjacent to Beverly Hills, CA. The Property had three recorded notes with the 2nd trust deed already in maturity default. The team used its strong lender relationships to source a quick close solution to refinance two of the three notes with a new short-term loan that required the 3rd trust deed to subordinate to the new lender.
