Venture West Funding Arranges $2,100,000 Loan for Inglewood School Purchase
El Segundo, CA - Venture West Funding, a commercial mortgage brokerage firm headquartered in El Segundo, CA, announced it has arranged the $2,100,000 purchase loan for the formerly named K Anthony Elementary School in Inglewood, CA. The school has been renamed the Dolores T. Richardson School after the borrower’s mother, the reopening ceremony was held on October 29th. The school provides an alternative education path for underserved students in the Inglewood community.
Steven Smith and Matt Douglas of Venture West Funding arranged the financing with Cal Private Bank. The 5-year fixed loan at 70% LTV features interest only payments and a flexible pre-payment penalty. According to Steven, “The Dolores T. Richardson School’s impact will be felt for generations to come. I am thrilled for the borrower to fulfill his dream of opening a school and helping children. I’m looking forward to seeing the impact this school will have on the children of Inglewood.”
Venture West Funding was founded more than 25 years ago and has placed over $12 billion in loan originations in the past 20 years. 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 2321 Rosecrans Avenue, Suite 1255, El Segundo, California 90245.