Apartment Building, Toluca Lake

Purchase Price: 1,808,511

LoanType/Use of Proceeds: Bridge/Construction Loan

Loan Amount: 850,000

LTV: 47%

Rate %: 10.5%

Term: 12 months

Rate Type: Interest Only

Plan/Notes Related To The “Loan”: Developer ran out of funds to complete construction 13-Unit project in Toluca Lake.  After being turned down by his commercial construction lender for additional financing, DCG provided take-out financing and an additional $450,000, allowing the developer to complete the project.