We are pleased to announce the concurrent closing of two loans needed to refinance the existing lenders.
Beachrock sourced two loans to refinance two existing lenders on two phases of a Small Lot Ordinance project located in the Echo Park area of Los Angeles. The first lender was able to refinance Phase 1, which was substantially complete, into a standing inventory loan at a favorable rate. The second lender was able to refinance Phase 2 of the project and accommodate the remaining construction costs. Taken together, the loans have allowed the builder to accommodate COVID-related delays, and successfully complete the project.
BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION!
