LOS ANGELES PRIVATE MONEY LENDER ANNOUNCES ACQUISITION AND CONSTRUCTION LOAN AND SYNDICATION STRUCTURING IN LOS ANGELES
LOS ANGELES, March 25, 2021 – Brooktree Advisors, Inc announced today that it has closed a first trust deed position and secondary profit participation opportunity for the acquisition and development of a 6,500 SQ FT lot located in Los Angeles, CA.
The entitled subject property is zoned R3 multifamily and RTI to be developed into two duplexes on one lot, consisting of 5,986 sq. ft. between four units. The Sponsors plan to modify existing approved plans to allow the conversion of garage spaces into two additional accessory dwelling units (ADU), bringing the total rentable living square footage to approximately 8,000 sq. ft. consisting of a total of 17 bedrooms and 16 baths.
Brooktree will provide the project sponsor with acquisition and construction financing secured by a first trust deed. In addition, Brooktree syndicated a profit participating second trust deed to raise the remaining equity for the project.
Upon approval of the modified plans, the Sponsors will refinance into a ~$1,600,000 construction loan arranged by Brooktree based upon an estimated completion value of $2,500,000.
Brooktree Fund is a private money lending fund capable of funding loans in 5 to 7 business days. With over $100M in loans funded the private money lender provides loans for non-owner occupied commercial, industrial, land, and residential real estate in California. Loan types include rehab, fix and flip, acquisition, construction, and refinance.
Investor and/or Media Contacts:
T: (310) 986-6240