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LOS ANGELES — Beverly Hills-based Bolour Associates has provided more than $20 million in debt financing for the redevelopment of three retail projects in Los Angeles. Upon redevelopment, the sites will deliver 375 apartments. The borrower is North Carolina-based Grubb Properties.
The portfolio includes:
700 Santa Monica Blvd., a 10,500-square-foot retail property slated for redevelopment into 99 apartments.
1200 Vine St., a 27,000-square-foot retail building in Hollywood that will be redeveloped into 151 apartments.
5240 Lankershim Blvd., a 30,900-square-foot land parcel in North Hollywood with plans for redevelopment into 128 units.