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1/26/17
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NorthMarq Capital arranged an $8.17 mil refi of Lafayette Square Apartments, a 44-unit multifamily property in Los Angeles. The property is located at 1625 Crenshaw Blvd, in close proximity to the 10 and 110 freeways.
The property is near the Natural History Museum of Los Angeles County, the Los Angeles County Museum of Art, the La Brea Tar Pits and Museum, Staples Center and the University of Southern California. Also in close proximity are numerous shopping/dining opportunities.
Amenities at the property include: balcony/patio; breakfast bar; WiFi of up to 300 MBPS, cable access, central air/heating, covered parking, dishwasher, hardwood floors, laundry room in-unit, laundry storage area, microwave, mirrored closet doors, Neolux blinds, pantry, refrigerator, stainless steel appliances, tandem parking, tile floor in bathroom and laundry room, two patios (one per bedroom), views of the Hollywood Sign, walk-in-closets and a washer/dryer in each unit. The property also offers access to public transportation, assigned parking, disability access, swimming pools and a spa/hot tub.
NorthMarq’s Scott Monroe arranged the loan, which was structured with a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule. The loan was funded through Fannie Mae.
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