Elm Drive.jpg

BACK TO CLOSINGS:

Location: Beverly Hills, CA

Loan Amount: $5,270,000

Term/Amortization: 15-Months I/O (6-months deferred)

Loan to Cost: 85%

Purpose: Acquire and renovate a 16-unit multifamily property. The property was 38% vacant at the time of purchase. The borrower expects renovations to be completed within 120 - 180 days.