24 Small Lot Ordinance Detached Products Refinance
Capital Raise Amount: $14,800,000
Financing: AD&C Loan
Landmark Capital is pleased to announce a successful $14.8 million development and construction loan transaction in Los Angeles, CA. Landmark Capital raised the debt required to develop approximately 0.81-acre assemblage, and construct 24 small lot ordinance detached units located at the southeast corner of Lexington Avenue and Orange Drive in West Hollywood.
“Working with the Landmark Capital team was a real pleasure. They did an excellent job sourcing the debt and finding a solution to the complicated deal structure.” Rudy Herrera at Family Development
Equity amount was in the form of a secured second Deed of Trust which many banks will not allow on a construction loan.
Landmark identified an institutional lender that had in-depth knowledge of the Hollywood market and was comfortable with the unique deal structure.