Rodeo Capital, Inc. Closes a $10,500,000 Refinance of a 3 Unit Retail Property in Venice California
Subject property is a 4,649 SF 3 unit retail property on 1 of the Coolest blocks in America; Abbot Kinney. Abbot Kinney, one of the most desirable retail corridors in the country, is home to amazing galleries, impeccable boutiques, dedicated cafes and upscale restaurants. Prices have quickly approached or surpassed those found in Beverly Hills and West Hollywood. In the heart of Silicon Beach, Abbot Kinney neighbors companies like Google and Snapchat, and has become a trendy destination for Angelenos and tourists. Less than 1 mile from Venice Beach, Abbot Kinney is a magnet for eclectic locals, artists, tech companies and floods of tourists. Borrowers run a real estate investment fund. The new loan from Rodeo Capital was a delayed purchase transaction. The borrower and its related companies have a current $1 Billion valuation.
- 54% Loan to Value
- 10 Day Close