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
- Recourse
Transaction Details:
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 was founded to enable owners of commercial real estate to achieve their investment goals with the least amount of time, energy, and cost, while creating surety of execution and peace of mind.
Established in 2015 and headquartered in Phoenix, Arizona, Tower Capital provides customized structured financing to investors throughout the United States. We specialize in debt and equity placement ranging from $2 Million to $100 Million and have financed over $500 Million for our clients since inception. We focus on independent financial advising with an entrepreneurial mindset, market vigilance and personalized attention to every client.
