Bridge Financing

in

Santa Monica, CA

$44,000,000
Land pre-development loan
January 6, 2021
Overview

The $44 million land pre-development loan was used for the refinancing of two multi-family development sites in one of the most sought-after locations in Santa Monica, CA.

The project on Lincoln Boulevard will have 98 residential units and more than 6,000 square feet of retail. The project on 7th Street will have 100 units and more than 4,000 square feet of retail. Both will have affordable units.

The borrower owns two by-right development sites in Santa Monica.  Both sites currently have month-to-month tenants in commercial spaces, and the sites will ultimately be developed into ground up multifamily projects.  The borrower does not need any entitlement or zoning changes but the design review process can take up to a year.

Execution Team
Aaron Prager
Director - Capital Markets
Direct.
Mobile.
Mobile.
Email.
(443) 207-2454
ap@levcapital.com
Setup a Call
Avi Zukerman
Director - Capital Markets
Direct.
Mobile.
Mobile.
Email.
(646) 552-7701
az@levcapital.com
Setup a Call
Justin Piasecki
Managing Partner
Direct.
Mobile.
Mobile.
Email.
(856) 325-9330
jp@levcapital.com
Setup a Call

Other Transactions