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June 18, 2024
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LOS ANGELES COUNTY NEWS
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Golden Bee Properties Locks Up $21 Mil in New Loans on Two Res Portfolios

1/06/23

Golden Bee Properties has secured new financing on two multifamily portfolios. The assets consist of a combined 105 units and are located throughout Long Beach and Los Angeles.

Zalmi Klyne with Northmarq arranged the new floating rate loans. They feature a fixed rate with flexible prepayment penalty. The loans total just under $21 mil.

The properties financed include:

Long Beach Portfolio: The portfolio consists of three properties (all originally built in 1959) and was refinanced for a combined $9.325 mil. The transaction was structured with a 10-year term with three years of interest-only followed by a 30-year amortization schedule. Northmarq secured the permanent-fixed loan for the properties through its relationship with a regional bank. The properties are located at 1850-1854 Pine Ave (16 units), 2223 Myrtle Avenue (14 units) and 1845‐1851 Pine Ave (20 units) in Long Beach, California.

Los Angeles Portfolio: The portfolio consists of three properties and was refinanced for a combined $11.55 mil. The transaction was structured with a two-year interest-only bridge loan. Northmarq secured the financing for the properties through its relationship with a regional bank. The properties are located at 6812 11th Avenue (26 units), 6821 11th Avenue (8 units) and 2301 W. Florence Avenue (21 units) in Los Angeles, California.





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