Acquisition Bridge Loan - Inglewood, CA
Transaction Details
- Project Type: Multifamily Acquisition Bridge
- Loan Amount: $2,250,000
- LTV: 60%
- LTC: 60%
- Term: 24 Months
- Rate: 8.90%
- Guaranty: Full Recourse
- Structure: Fixed Interest, No Prepay
- Closed: Q3 2023
- Location: Inglewood, CA
- Arranged By: Adam Dreyfuss and Tomer Sheelo
Transaction Overview
FOCAL arranged an acquisition bridge loan for a multifamily property in Inglewood, California. The financing was arranged by Adam Dreyfuss and Tomer Sheelo of FOCAL, a Beverly Hills-based commercial real estate debt and equity advisory firm arranging financing nationwide.
The property was occupied primarily by legacy tenants paying below-market rents, resulting in in-place cash flow that did not support the sponsor's desired loan proceeds. FOCAL structured the financing around the property's underlying land value rather than current income and secured a 60% LTV bridge loan with a fixed interest rate and no prepayment penalty.
The structure also accommodated a sponsorship team with limited experience as lead principals and provided the flexibility needed to carry the property through the entitlement process while the sponsors advanced their redevelopment plans.
The property, located at 925-931 N. Eucalyptus Avenue, is within Census Tract 6013.03, which is included on California's recommended list of Opportunity Zone 2.0 tracts. If ultimately certified by the U.S. Treasury, the new designation would take effect January 1, 2027, potentially adding another strategic advantage as the sponsor moves the property through entitlement and redevelopment.
About FOCAL Advisory
At FOCAL, we are dedicated to empowering our clients through comprehensive real estate advisory services tailored to meet the complexities of today's market. We specialize in market analysis, due diligence, asset management, transaction support, and innovative financing solutions, so that each investment decision is strategic, data-driven, and aligned with our clients' long-term goals.
Every real estate project carries its own unique financing requirements. Our tailored financing solutions provide flexible, efficient, and strategic funding options aligned with the specific needs of each investment - drawing on a broad spectrum of capital sources, from institutional funds and CMBS to agencies, local banks, and private money lenders, on transactions nationwide.
Contact the capital markets team - Adam Dreyfuss (DRE 02243085, adam@focalinvest.com) and Tomer Sheelo (DRE 02144916, tomer@focalinvest.com) · (310) 929-6959 · 150 S Rodeo Drive, Suite 100, Beverly Hills, CA 90212.
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