Transaction Details
Refinance
$12,079,229
West Hollywood, CA
Refinance
- Project Type: Refinance
- LTV: 70%
- Rate: 10.65%
- Term: 12 Months
- Guaranty: Recourse
Transaction Overview
MBP is pleased to announce the successful closing of a $12.1 million bridge loan for a newly constructed 14-unit condominium project located in the heart of West Hollywood. With construction recently completed, the sponsors sought a cost-effective refinancing solution ahead of their existing loan maturity. MBP structured and delivered a lower-cost bridge financing that allowed the sponsors to transition seamlessly from construction to stabilization while maintaining flexibility during the initial sales phase.
The cash-neutral refinance was executed prior to the issuance of the Certificate of Occupancy, providing the sponsors with sufficient time to complete the condominium mapping process and commence individual unit sales. The property is situated within one of West Hollywood’s most desirable and supply-constrained residential submarkets, characterized by strong buyer demand and limited new inventory. Its prime infill location offers immediate access to premier lifestyle, dining, and entertainment amenities. This transaction represents MBP’s seventh successful closing with the sponsor, underscoring the strength of the ongoing relationship and MBP’s ability to consistently deliver tailored capital solutions.
MBP specializes in debt and equity placement for all asset classes. Our extensive network of unique capital sources in development and permanent financing and extensive capital markets knowledge allows us to tackle a wide variety of transactions, regardless of complexity or size, to benefit our clients.
MBP has a team of dedicated and experienced finance professionals with you at every step. We are consistently improving and expanding our capital market relationships and are committed to exceeding our client's expectations through these relationships, innovative solutions, and outstanding work ethic.
Intermediaries Team
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