Bolour Closes First Preferred Equity Deal in LA’s Koreatown Submarket
Introducing the BOLOUR debt equity program!
Location: 1124-1138 S. Normandie Avenue, Los Angeles, CA
Market: Koreatown – Los Angeles Equity: $5.5MM
Loan Purpose: 45,000 s.f. / 86-Unit Construction
“This is the first of many preferred equity deals BOLOUR will be closing in 2022! The program offers funding in a valuable position within the value-add capital stack, stretching project proceeds up to 85% of cost. In this booming Southern California multifamily market, this first deal is a prime example of BOLOUR’s ability to create opportunities that continue to support smart commercial real estate development in prime U.S. growth markets.”