$11,000,000
Perm Loan
50-Unit Multi-Family
Hollywood, CA
HRC arranged an $11 million, 10-year fixed rate loan for the Cosmo Lofts. The loan was structured with multiple fundings, with an initial funding at 65% occupancy, and two additional fundings at 81% and 94% occupancy. This allowed the borrower to close on a permanent loan prior to stabilization and eliminate interest rate risk by locking the 10-year Treasury yield in the low 4% range.