4216 W. Jefferson – Los Angeles, CA
- Loan Amount: $2,400,000
- Purpose of Loan: Acquisition & Renovation
- Capital Source: Bank
- LTC: 61%
- Term: 5 Years
- Rate: 5.25%
- Amortization: 25 Years
- Interest Only: 9 months
4216 W. Jefferson is a 9,000-square stand-alone flex space with excellent frontage on a rapidly transforming stretch of West Jefferson Blvd in Los Angeles, CA. This asset is located in close proximity to two LA Metro Expo Line stops, which provides great transportation options for users of the space. It also enjoys convenient access to all parts of the city via the 10 Freeway. With upscale retail amenities moving into the area, the subject property is located in the heart of a quickly gentrifying neighborhood. The building will undergo a complete renovation. Proposed improvements include a completely updated façade, exposed bow-truss ceilings with skylights and polished concrete floors, new roof & hvac and a built-out mezzanine level.
Tower Capital was able to secure the floating rate bridge loan from a California Bank. The 5-year loan floats over prime with 9 months of interest only and 25-year amortization thereafter. The loan also does not have a prepayment penalty which provides the borrower with maximum flexibility to refinance the asset once they secure a tenant.
About Tower Capital:
Tower Capital is a Commercial Real Estate Finance firm specializing in debt and equity placement on behalf of commercial real estate investors throughout the country. They offer borrowers conventional permanent financing through their commercial mortgage brokerage division, as well as short term bridge solutions through their in-house private money platform.