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Venture West Funding Arranges $31.1 Million Financing Package
El Segundo, Calif.-(BUSINESS WIRE) – Dec. 9, 2004—Southern-California-based Venture West Funding, Inc. announced that the firm has completed the placement of a $31.1 million loan package on 15 apartment buildings in West Los Angeles. The 15 properties contain 201 units and are valued in excess of $40 million. Brian Horner of Venture West arranged the financing through First Federal Bank of California for one of West Los Angeles’ largest apartment owners. . It is the second-largest multi-family package of loans for the El Segundo-based firm since it was founded in 1997.
"The key element was negotiating an overall package that included concessions on existing prepayment penalties, discounts on the interest rate and overall loan costs to the borrower from one financial institution”, according to Horner, a principal of the firm.
“This large package of loans is an example of our ability to offer a diverse array of real estate financing options together with customized solutions, streamlined processing, and reliable closings. The bulk of our volume in 2004 has been multi-family housing in Southern California”, added Horner.
Venture West Funding was founded nearly 10 years ago, and exceeded $1.0 billion in loan volume during 2003. 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 2101 Rosecrans Avenue, Suite 1225, El Segundo, California (310-364-3131). The firm also maintains a full service office in Orange County at 2 Park Plaza, Suite 220, Irvine,California (949-475-5573).
CONTACT: Venture West Funding
Brian Horner
(310) 364-3131 Extension 225
Fax: (310) 943-2108
bhorner@ventwest.com
www.venturewestfunding.com
or
Santley Associates
Tom Santley
Phone or Fax (626) 441-4594
tsantley@socal.rr.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING REAL ESTATE
SOURCE: Venture West Funding
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