Featured Transactions

Client Request

New bridge loan at competitive pricing to allow for sell-out of remaining condo inventory of a creative office live-work community.


Situation/Challenges

  • Sponsor built a Class A Live/Work condominium Project
  • Units were leased in lieu of sale due to market conditions at time of completion
  • Sponsor is now selling units into a rising market setting after operating the property as a rental property during the downturn
  • Limited market sales of Live/Work condominiums
  • Property located in Los Angeles Metro area

Solution

  • Identified a well-capitalized lender entering the Los Angeles market that offered flexible deal terms
  • Proved out the value of the units using comparable sales from similar projects that the Sponsor had previously built
  • Sourced bridge loan at competitive terms based on sell-out value of condo inventory in spite of limited historic sales