$11.5MM Bolour Land Loan Funds New Downtown LA Multifamily Development Site
Bolour has completed an $11.5 million land loan, funding the purchase of two land parcels in downtown Los Angeles for a brand new modular multifamily development.
Location: 129 W. 3rd Street & 240 S. Spring Street, Los Angeles Loan Amount: $11.5MM
Term: 24 Months
“This loan allowed our borrower to assemble and quickly close on two adjacent land sites – giving them the time and flexibility needed to entitle the combined site for 331 modular multifamily units and approximately 5,500 square feet of ground-floor retail. As we enter a new cycle in the market, this development will become one of Downtown LA’s premier mixed-use projects. BOLOUR was excited to work with Jeff Sause from JLL on the transaction.”