$30MM MID-CONSTRUCTION REFINANCE

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!