El Segundo, Calif. - Venture West Funding, Inc., a mortgage company headquartered in El Segundo, CA announced it has arranged $18.145 million in loans for the refinance of three apartment buildings in the North Hollywood, Encino, and Hollywood neighborhoods of Los Angeles. The 24-unit Encino property and the 15-unit North Hollywood property were both constructed in the mid 2000’s and feature pools and state-of-the-art amenities. The 44-unit Hollywood property is located in a premier location off Sunset Boulevard and is remarkably maintained. The borrowers are experienced real estate investors who own several similar multi-family buildings across the Los Angeles area.
Matt Douglas of Venture West Funding arranged the financing through Umpqua Bank. The non-recourse loans are at a very competitive 7-year fixed rate with flexible pre-payment penalty structures. According to Mr. Douglas, "Together with Umpqua Bank we were able to satisfy the borrowers’ objectives by providing significant cash-out at a competitive rate. The borrowers were fortunate in locking the interest rate in March when treasury yields were more favorable." The Venture West team worked diligently with the borrowers and lender to ensure a successful loan closing.
Venture West Funding was founded more than 18 years ago and has placed more than $8 billion in loan originations since 2001. Venture West Funding 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 Funding is headquartered at 2301 Rosecrans Avenue, Suite 3170, El Segundo, California 90245 (310.706.4450). The firm also maintains a full-service office in Orange County at 31371 Rancho Viejo Road, Suite 101, San Juan Capistrano, California 92675 (949.218.4002).
Venture West Funding
Matt Douglas, 310-706-4462
Tom Santley, 626-441-1445
Published: June 23, 2015