Loan amount
$69,900,000
Loan type
As-Is Property Value
$450,000,000
LTV
16%
{LTV}
Property type
Residential development
Borrower Details
Credit score
537
Deal experience
100 deals
This loan scenario was submitted by a Broker
Property Details
State
California
Loan Details
Additional Loan Information
This is an RTI condominium development project in the downtown Los Angeles area. I am looking for a 100% LTC lender for the acquisition and the construction costs. All units will be sold upon completion of the project and there will also be ground floor retail. Purchase price $69.9M. Construction budget $165M. Timeline of 1 year or less. Value $450M once complete. 452 condominium units & 23,000+ sq. ft. retail. Offer to be submitted this week. 18 month loan duration.
Status
Closed
Created
July 20, 2020 - 8:15am
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