Underscoring its continued effort to lend on distressed retail, BOLOUR has completed a $6.75 million acquisition loan for a 3,500-square-foot retail property in Beverly Hills, California. The 12-month loan was provided at a 75% loan-to-value ratio.
The complex transaction required precise timing to mitigate first and second trust deed considerations, allowing the borrower to complete a $9 million retail acquisition. As an owner/user, the borrower will transition the high-end, turn-key vacant retail space into an upscale antique store within a prime Beverly Hills commercial corridor.
BOLOUR specializes in providing timely and creative loan services, including during the pandemic, when retail closures have produced a rare supply of high-value, for-sale commercial space in prime infill locations like Beverly Hills.
