Terraces at Madrona

Jul 28, 2015


An 84-unit apartment project located just three blocks north of the Sherman Oaks Galleria


Sherman Oaks, CA


A 95% LTC participating loan in the amount of $12,991,000. The property was acquired for $11.8 million and borrower plans an $850,000 interior and exterior rehab. At closing, the units were 20% below market. The sponsor plans to increase rents by an additional 12% to 14% post-rehab.

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