Premier Apartments

iBorrow’s loan was secured by a first deed of trust on a multiple site portfolio of low-­‐income housing units located in Los Angeles, CA. The properties fall under Section 8 housing, which means tenants pay 30% of the income toward rent, and the government pays the rest of the market rent. Consequently this type of housing is in very high demand and occupancy rates are consistently near 100%. The proceeds from the loan were used to purchase and install solar panels, thereby reducing utility costs, and for general property upgrades.

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  • Property Type Multifamily
  • PurposeRefinance
  • Gross Annual Coupon9.50%
  • Loan Amount$7,000,000
  • Loan to Value50.5%
Location

Los Angeles, CA

Funding in as few as 14 days

iBorrow closes deals quickly and reliably within 2-4 weeks. Contact us to learn more or apply today!

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