$2,200,000 Ground Up Construction Loan

We are pleased to announce the closing of a $2,200,000 construction loan which will be used to build five "SLO"  for-sale residential units in the Echo Park neighborhood of Los Angeles.  

Beachrock successfully closed the $2,200,000 loan with a private lender which will be used to build five shovel ready Small Lot Ordinance residential units. 

Bana Builders, a Los Angeles based developer and general contractor, purchased the property.  Bana is leveraging their expertise in high-rise and multifamily construction, as well as self performance of framing and other trades to execute the project.  

Beachrock was able to find a lender that was able to minimize the up-front equity requirement to close the loan by allowing deferred equity.  This aspect was crucial to the Borrower, who had a mismatch in timing between the closing date and future incoming cash flows.  The Lender was able to accommodate the tight closing timeline needed to get the deal closed.  

BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION