LFB Ventures was engaged by a repeat client to complete the refinance and construction financing of a 5-unit luxury townhome development in Culver City, CA. LFB had previously arranged a bridge loan that was used to carry the property through “Ready To Issue” (RTI) status so that a construction loan could be closed. At time of funding, the site was home to three bungalow style rentals that would be cleared prior to excavation of the property.
The project will include 5 luxury townhome units over subterranean parking. Each townhomes has 3 bedrooms, 600 square foot fully finished roof terraces, and is within one of the best school systems in Los Angeles. The projected price points are expected to be just over $2.0m.
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