Location: Los Angeles, CA
Loan Amount: $3,237,500
Pre-Payment Penalty: None
Loan to Cost: 95%
Loan Type: Acquisition & Repositioning
Arriba Capital successfully closed a $3,237,500 acquisition & renovation loan for a 10-unit apartment building in Los Angeles, CA. The sponsorship is an experienced value-add investor and plans on repositioning the property over the next 6-9 months. This prime West LA location enables easy access to the restaurants and shops located along Venice Blvd & Abbot Kinney. The 15-month interest-only loan was leveraged to 95% of the purchase price & 75% of the future renovation costs.