$6,300,000 Bridge Loan &
$2,700,000 JV Equity
21-Unit Multi-Family
Los Angeles, CA
Highland Realty Capital has secured a $6.3M bridge loan and $2.7M of joint venture equity for the acquisition of a vacant 21-unit apartment building in the Silver Lake neighborhood of Los Angeles, CA. The business plan is to complete roughly $2.0mm of capital improvements to fully renovate unit interiors, building exteriors, and common areas and lease up the units at market rate. The 65% LTC bridge loan was arranged with a local bank and the joint venture equity was sourced through a private REIT.