Bellwether Enterprise Arranges $7.7M Refinancing for Trevi Villas Apartments in North Hollywood
NORTH HOLLYWOOD, CALIF. — Bellwether Enterprise has secured a $7.7 million permanent loan and construction loan refinancing for Trevi Villas Apartments, a luxury apartment building located on Hartsook Street in North Hollywood.
The newly built property features 27 units in a mix of two-bedroom/two-bath and three-bedroom/two-bath layouts.
Mack Mower of Bellwether Enterprise’s Los Angeles office arranged the loan through Nationwide for the undisclosed borrower. The 10-year loan features one year of interest-only payments followed by a 30-year amortization period. Additionally, the financing included approximately a $500,000 cash-out to the borrower after the construction debt and closing costs were paid.