The 14,878-s.f. lot is located on a prominent corner of the iconic Rodeo Drive in the heart of the Beverly Hills luxury shopping district known as The Golden Triangle. Property Type: Fee Simple Ground Parcel in Beverly Hills, Calif. Loan: $38M Permanent Loan Lender: Lincoln Financial Group Leverage: ~25% LTV Rate: Fixed well inside of More
Stonehill provides a refinance loan for a luxury 84-key non-branded hotel in the Los Angeles MSA. The loan ran into some challenges because Stonehill had to proforma the underwriting, as the historical performance was impacted by the pandemic and a lack of capital investment in the asset. Stonehill was confident with the fact that the More
Red Oak Capital provided a bridge loan for The Atrium at Gillette Ridge. The property consists of three different buildings including a 435,853-s.f. Class A office building, a 101,652-s.f. industrial building and a flex/office building containing 40,688 s.f. The property is situated on 50.85 acres and was built in 1997 and renovated in 2007. The More
Elements Apartments will be a 167-unit mid-rise apartment property with a third quarter 2023 completion date. Limited sales comps of recently built Class A multifamily properties provided a hurdle to support the “as complete” underwritten valuation. However, Thorofare was confident with the significant increase in market rents that has been attributed to newer Class A More
This deal ran into some hurdles because the asset is located in a very small market and the subject property is senior housing in the age of COVID-19. The owner/operator needed to be extremely vigilant to make sure COVID did not impact their properties. This HUD 232 loan originated by PGIM. “From our very first More
Although this was a fairly straightforward condo loan with strong pre-sales and a repeat borrower, Trez Capital had to juggle and structure a high-leverage loan in a secure manner and successfully created a solution that worked for both Trez and the borrower/developer, Treasure Island Investment Holding LP. The project was almost 50% pre-sold, which significantly More
This deal included a construction loan on a single-family home in Paradise Valley, Ariz., that was under contract to a third party before the home was fully completed. The investor had acquired an old residential home that he wanted to demolish and then split the land into two lots, sell one of the lots and More
First Bridge Lending was confident that this single-tenant industrial property, built in 1989, was in a supply-constrained area and the building had attractive attributes. The 31,850-s.f. property was being sold by an owner-user tenant and part of the sale was a four-month rent-free leaseback period. Following the four-month period, the building would be 100% vacant. More
Parkview Financial provided financing for the redevelopment of the Harrah’s Reno Hotel and Casino into a mixed-use project named Reno City Center. The planned project will include 528 apartment units, as well as office and retail space. Equity was provided by Gryphon Private Wealth Management’s opportunity zone fund. Parkview liked that the sponsor found an More
COVID-19 has hit many retail properties hard and most lenders are not funding retail properties at this time. Property Type: A Retail Shopping Center in Placerville, Calif.Loan: $3.9M Refinance Lender: Symetra Life CompanyLeverage: 30% LTVRate: 3.76% The fact that Hangtown Village Square located in Placerville, which is a smaller market located in between Sacramento and Lake More
Miami, Florida
November 7-8, 2023
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