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Loan Highlights

  • Location: Burbank, CA
  • Product Type: Mulifamily
  • Loan Amount: $3,000,000

Description

Multifamily

  • This loan is a strategic purchase of a small apartment project in the Media Center redevelopment area of Burbank.
  • Circa 1940’s construction, with stable in-place occupancy due to the property’s irreplaceable infill location.
  • 67% loan to purchase, for a 2-year initial term, with a 1-year extension option.
  • Revere structured with “soft” additional collateral to mitigate the <1:1: initial DSCR.
  • The property is surrounded by Universal Studios, Disney, Dolby, NBC.