Recently Financed Mixed Use Venice, CA

Kevin Heisser and Jon Fulton of Capital Partners recently refinanced this mixed use project located in Mar Vista, CA. This property was recently developed and we previously refinanced the property out of the construction loan into a bridge loan until the property was fully stabilized.

The asset was designed with larger units complete with high end finishes and marketed at the top end of market rents. The property fell out of our normal stable of capital providers due to only having four residential units and ground floor retail. The Borrower owns the adjacent property and intends to hold this long term and the assignment was to identify a lender that was comfortable with a four-unit with commercial and provide long term financing with a fixed rate. We were able to identify a lender that understood the strengths and we were able to successfully accommodate the request.