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11001 West Pico Blvd.
Los Angeles, CA | December 2018
Thorofare Capital has funded a $7,550,000 Short-Term Bridge Loan for the refinance of 11001 West Pico Blvd., a 33,379 SF, 89-unit entitled multifamily site with nearly 200 feet of frontage along Pico Boulevard in West Los Angeles. Additionally, two additional SFR lots totaling just under 14,000 SF were included in the portfolio loan.
Thorofare provided a competitively-priced one-year, floating rate, non-recourse, interest-only loan with prepayment flexibility for repayment through planned construction financing in the near-term.
The sponsor is a real estate development firm that specializes in the acquisition, entitlement, and development of multifamily and mixed-use properties in Southern California. Their projects include luxury and affordable residential units with ground floor retail and office spaces located in Santa Monica and Los Angeles, California.