OC Single Property
4 Phase Multi-Family
Los Angeles, CA
$37,500,000
112-unit Apartment Project | Debt Fund
Overview
Sponsor had acquired 4 land parcels over 23 years for use by his industrial business. The area had transitioned to higher uses such as multi-family housing. Sponsor entitled the site to build 4 × 28 unit apartment buildings.
However, Sponsor had little real estate development experience. Further, much of his personal net worth was tied up in the land. Banks were therefore passing on the construction financing opportunity.
Solution: Pathfinder sourced a private debt fund who could recognize the high value of such a project and location and was willing to back the Sponsor's vision.
However, Sponsor had little real estate development experience. Further, much of his personal net worth was tied up in the land. Banks were therefore passing on the construction financing opportunity.
Solution: Pathfinder sourced a private debt fund who could recognize the high value of such a project and location and was willing to back the Sponsor's vision.
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