85,000 SF Industrial Property
Los Angeles, CA
Highland Realty Capital has secured a $10.3mm, 3-year bridge loan for the acquisition of an 85,000 sf, 3-building industrial property located in Los Angeles, CA. The 75% LTV non-recourse loan was provided by a private lender. The primary business plan is to cash flow the asset with short term leases while seeking entitlements to develop apartments on the site. In the event that acceptable entitlements are not secured, the loan provides the borrower with flexibility to renovate the buildings and lease to industrial users.