Real estate investment firm Lion Real Estate Group (“Lion”) has recently secured a $13,714,000 refinancing loan for a 54-unit multifamily property in Los Angeles, California located at 5717 Laurel Canyon Blvd. The $13,714,000 loan from Fannie Mae features an interest rate of 2.45% with a fixed term of 10 years and 5 years of interest-only payments. The loan will refinance an existing loan on the property, thereby reducing Lion’s annual debt service by approximately $215,000. The Lion principals decided to execute this refinancing to take advantage of all-time-low interest rates and the strong current income at the property. Lion acquired Laurel Terrace in May 2013 for $9,300,000.
Berkadia’s Robert Falese and Jake Adoni arranged the financing.
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