40-Unit Multi-Family Dev
Highland Realty Capital is pleased to announce the successful capitalization of 6630 Sunset Blvd in Hollywood, CA. Client engaged HRC to arrange a $13.1mm construction loan for the development of a six story, 37,000 SF mixed-use project consisting of 40 luxury apartment units above 3,500 SF of ground floor commercial space. The class A project boasts a 97 Walk Score due to its proximity to restaurants, coffee shops and entertainment venues, and upper floors will have beautiful views of the Hollywood Hills. The loan was underwritten by a local bank with a maximum loan to cost of 73%, and a maximum LTV of 65%. The loan has a two-year initial loan term with one 12 month extension option, and bears interest at a fixed rate of 4.25%.