$5,000,000 LUXURY RESIDENTIAL APARTMENT CONSTRUCTION

Transaction Description:

$5,000,000 LUXURY RESIDENTIAL APARTMENT CONSTRUCTION

Construction Loan (Ground-Up)

5-Unit Luxury Townhome Development (For Rent)

Architecturally – Significant Design

West Hollywood, California

65% LTC

Sub-4.00% Rate

Signed up during Covid

Closed at proposed terms

Mandri has deep experience in arranging construction loans for apartment developments. In this case, Mandri meticulously prepared a submarket survey to prove out high-end residential tenant demand, and then leveraged a long-standing bank relationship to successfully close a construction loan for a new ultra-luxury residential rental development. At the time, most bank lenders shut down operations due to covid. Mandri’s deep relationships with the most capable and competitive construction lenders nationwide provide certainty of execution.