$26MM Senior Loan – Construction Financing
New construction loan request for 121-unit Class-A mixed-use multifamily property located in Los Angeles, CA (Koreatown).
- Transit-oriented development at high-traffic, in-fill location within growing submarket
- Sponsor’s business plan considered positioning as extended stay / corporate housing
- At the time, this was sponsor’s largest development project on the West Coast
Dekel Capital identified a regional bank lender that recognized sponsor’s development experience in the submarket, as well as sponsor’s capability to execute on a high-end product in a competitive market. Dekel had worked with the lender on a prior construction loan.