Echo Park, CA

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$2,800,000 | LTC: 65% | # of Units: 8 | Term: 1 Year

CIVIC Multifamily recently funded a loan of $2,800,000 for the refinance and completion of an asset in the Echo Park submarket of Los Angeles.

The Plan

  • Using CIVIC's 12 month bridge loan for recapitalization purposes
  • Sponsors portfolio consists of similarly positioned, stabilized assets in major metros, providing proof-of-concept for the investment strategy
  • Utilize self-owned property management company for the day-to-day operations of their portfolio for operational efficiency
  • Subject property is in a stellar location, within walking distance of nearby amenities, parks, and event centers

 The Loan

  • Loan captured 65% of the current stabilized value
  • Fully leased property services Civics’ bridge loan and falls in-line with agency takeout options
  • Non-recourse loan with no prepayment penalty allows sponsor to refinance to permanent debt immediately after establishing seasoning
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Civic Financial is an Equal Housing Lender

© 2020 Civic Financial All Rights Reserved. Located in Redondo Beach, California, Civic Financial Services LLC is a leading private money lending provider servicing the greater Los Angeles, Dallas, Phoenix, Seattle, Portland, Denver, Miami, South Beach, Tampa, Sarasota, San Diego, San Francisco, Irvine, Las Vegas, San Jose, Riverside, San Bernardino and surrounding communities. Civic specializes in short term, non-owner occupied and investment properties financing utilizing private hard money and bridge loans.

This is not a commitment to lend. Restrictions may apply. LTV limit is based on current, accurate appraised value. Civic Financial Services, LLC reserves the right to amend rates and guidelines. All loans are made in compliance with Federal, State, and Local laws. Civic Financial Services, LLC is a California Finance Lender under NMLS 1099109 and the California Department of Business Oversight License #603L321, AZ Mortgage Broker License #092863, FL Mortgage Lender Servicer License #MLD1536, NV Mortgage License MB4419, NV Broker License #4443, NV NMLS ID #1410002, OR Mortgage Lending License #ML-5282, UT DRE Mortgage Entity License #10570639. Civic Financial Services, LLC is an equal opportunity lender. Powered by - Mortgage Marketing | Privacy Policy