$10,650,000
Bridge Loan
42-Unit Multi-Family
Los Angeles, CA
Highland secured a $10,650,000 bridge loan to refinance construction debt on a 42-unit, 4-story apartment project adjacent to the University of Southern California. The well-located, opportunity zone development completed in late 2021 and is currently in lease up. The non-recourse floating rate loan significantly reduces the Borrower’s cost of capital. It also provides additional term to complete lease up, stabilize the property and line up competitive perm financing.