Condominium – Los Angeles, CA

$8.5MM • Los Angeles, ca

Transaction Highlights

  • Total financing of $8.5 MM
  • PACE LTV: 29.74%
  • CLTV: 65.65%
  • Capitalized interest period of 19 months
  • 26 year amortization
c-PACE:

$8.5MM

Location:

CA

Type:

New Construction

building:

Condominium

Term:

29 Years Fixed

Status:

Closed

Project Description

Bayview PACE provided a PACE loan for $8.5MM for the new construction of a condominium project. The project is located at 750 Irlo Street, Los Angeles, CA. The Sponsor, Chateau Group, was seeking construction financing for the Irlo Street Condominiums, a to-be-completed 33-unit building, 43,634 SF with 19,344 SF of an underground parking garage. The building will consist of twenty-five 2-bed/2-bath units with an average unit size of 1,129 square feet and eight 3-bed/2-bath units with an average unit size of 1,407 square feet. Each unit will have in-unit laundry and a balcony. Building amenities include an on-site gym and a rooftop deck. There will be 66 automobile parking spaces and 34 bike stalls. Construction is estimated to take 20 months to complete.

CLOSED BY:

C-PACE Originators
844-518-2343