Commercial Loan News
The Ashby Apartments
STEELHEAD CAPITAL, INC. PROVIDES $3.55 MILLION LOAN FOR ASHBY APARTMENTS IN LOS ANGELES , CA
San Francisco, CA - November 3, 2005
Commercial Mortgage Summary:
San Francisco, CA - Steelhead Capital, Inc. closed a $3.55 million loan in Los Angeles, CA for the Ashby Apartment property November 3, 2005. The loan has a 10-year fixed rate at 5.78% for a 10-year term and amortized over 30 years. Steelhead Capital arranged the loan through one of its correspondent lending relationships.
Steelhead Capital arranged financing for the Sponsor to acquire and renovate several of the 49 units in the 1930 five story "art-deco" style apartment complex located in the Wilshire Center/Korea Town area of Los Angeles. Steelhead Capital marketed the financing request to a broad range of lenders, and found very competitive fixed rate financing that also provides an earn-out feature once the property is further stabilized after renovations are complete.
Steelhead Capital is a premier provider of creative commercial loan financing for commercial real estate investors. Steelhead Capital brings an extensive network of lending sources, structured finance experience with a focus on acquisitions, and a clear commitment to personalized customer service to investors financing properties in any of the 50 states. Steelhead Capital's offices are located in San Francisco, CA. Company information can be found at www.steelheadcapital.com.
Contact Information:
Steelhead Capital, Inc
415-397-2980 (phone)
415-397-2981 (fax)