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8/03/15
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Partners Capital Finance, along with a conventional CMBS lender, has provided a $3.4 mil bridge loan for the purchase of 245k sf of industrial space on multiple parcels totaling four acres in the heart of Downtown Los Angeles’ Arts District. The site is currently comprised of two older buildings.
The financing was based on 100% LTC and has a high single-digit interest rate. The borrower, Art City Center LLC and Loft Quinox LLC, plans to reposition the property.
The Partners Capital Finance team behind the transaction was led by President and Principal Bobby Khorshidi. The company is a subsidiary of Partners Capital Inc, a direct lender that specializes in financing short-term bridge loans secured by real estate.
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