$21MM OF TOTAL FINANCING

We are pleased to announce the closing of a $15,500,000 Construction Loan and a $5,500,000 Preferred Equity Investment

Beachrock has successfully closed $21,000,000 of total financing, which included a $15,500,000 senior construction loan and a $5,500,000 preferred equity investment.  The financing will accommodate the ground up construction of an 84 unit apartment project located in the Koreatown area of Los Angeles.  

Due to our Client's desire to hold the asset long term, we needed to find a capital structure that would facilitate the construction and lease up of the project, but would also accommodate a smooth and amicable refinance of both tranches of capital upon completion and refinance into permanent financing.  

The development of the site is already underway!

BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION!