Closed Loans

3.10% Refinancing Rate Secured For Multifamily Building in East LA

3.10% Refinancing Rate Secured For Multifamily Building in East LA

John Libretti of Progress Capital secured $1,700,000 in refinancing for the property located at 1201-1211 E. 28th Street, Los Angeles, CA.

Libretti worked with a regional bank, who provided the following terms:

  • $1,700,000 Loan Amount
  • 3.10% Fixed for 6 Years
  • 3-Years Interest Only
  • 30-Year Amortization

The property is a 1903 built multifamily dwelling comprised of 12 units situated in Los Angeles, directly south of the Fashion District and east of the University of South California. This large diverse neighborhood features everything LA, from food trucks and corner markets to wide sidewalks and residential areas filled with bungalows, ranch, and Spanish Colonial architecture. The area features palm trees and mountain views, hued with dazing undertones giving it a cool, funky vibe.

Located just minutes from downtown Los Angeles, Hollywood and Beverly Hills. Downtown LA lies just on the other side of the 110 Freeway, a mere two miles away.

Since 1990, Progress Capital has closed over $40 Billion in commercial loans and $150 Million in directly funded bridge loans.  As a commercial real estate advisory firm, we can advise you on any real estate investment you are considering and provide the financing advice you need to manage through the commercial real estate acquisition and/or financing process.  We consistently get our clients to the closing table… plain and simple!

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