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Venture West Funding Arranges $11.5 Million Loan on Chatsworth, CA Apartment Building
El Segundo, Calif.-(BUSINESS WIRE) –April 15, 2008 – Southern California-based Venture West Funding, Inc. announced it has arranged an $11.5 million refinance loan on an 80-unit apartment building in Chatsworth, CA. Matt Douglas of Venture West Funding arranged the financing through Union Bank for a Southern California-based real estate investor.
According to Douglas of Venture West, "We secured a five-year fixed, interest only loan at 5.14%. The new loan generated cash out of $6,273,884. This multi-family property loan is representative of the deals we are seeing now in this market. Despite the general real estate credit crunch and the tightening of underwriting standards by lenders, we have continued to secure competitive loans for our clients. Venture West has maintained relationships with many lending institutions that offer a variety of products to fit our clients’ needs.”
Venture West Funding was founded over 18 years ago and has funded more than $5.7 billion in loan volume since 2002. Venture West is one of the largest firms of its kind operating throughout Southern California, and specializes in providing mortgage loans secured by apartment buildings, commercial properties and single-family homes to a wide variety of borrowers. Venture West is headquartered at 2301 Rosecrans Avenue, Suite 3100, El Segundo, California, 90245 (310.706.4450). The firm also maintains a full-service office in Orange County at 2 Park Plaza, Suite 220, Irvine, California 92614 (949.475.5573).
CONTACT: Venture West Funding
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING REAL ESTATE
SOURCE: Venture West Funding |
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