The owner of an apartment property in East Hollywood has secure financing for a comprehensive rehab of the units and exterior of the building as well as a seismic retrofit. The local developer secured a bridge loan for the deal, but the terms were not disclosed.

The property is just north of iconic Santa Monica Boulevard and enjoys excellent walkability and bikeability, with good public transportation options nearby. Apartments dominate the surrounding area and it has great appeal to the healthcare workforce, studio workers, and students of LACC.

Greysteel director Mark Pettibone from the firm's Los Angeles, California, office secured the funds on behalf of the borrower.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Los Angeles
Multifamily
Capital Markets
West