Saturday, September 6, 2014

Lone Oak Fund Financing Enables Expansion of Los Angeles Performing Arts College

Alexa Mizrahi

LOS ANGELES, CA – Lone Oak Fund, LLC, a private lender specializing in short term real estate loans, has provided acquisition financing for the purchase of a creative office property in Hollywood, Calif. that will serve as an expansion of the existing Los Angeles campus of the American Musical and Dramatic Academy.

The borrower, a New York-based college conservatory for the performing arts, was seeking supplemental financing in a short timeframe in order to secure this quality property for its Los Angeles campus expansion.

American Musical and Dramatic Academy
1641 Ivar Ivanue, Hollywood, CA
“Hard money continues to be a key component in getting deals closed in today’s competitive office market,” says Alexa Mizrahi, a Senior Loan Officer at Lone Oak Fund. 

“With banks continuing to be constrained by post-credit-crisis regulations, many businesses are looking to private lenders for creative solutions to get the money they need quickly.”

Lone Oak Fund provided $5 million in acquisition financing for the purchase of the 19,000 square-foot Hollywood office building. The building was acquired by the borrower for a total of $10 million, according to Lone Oak Fund.

The property, located at 1641 Ivar Avenue in Hollywood, Calif., will be eligible for conventional financing after interior improvements are completed, according to Mizrahi. 

Nicholas Roussos
The 18 month loan, priced at 8.30 percent interest only, was brought to Lone Oak by Los Angeles-based finance specialist Nicholas Roussos at Avison Young. 

“Strong broker relationships are essential to our business, and we are absolutely committed to helping our broker partners meet the needs of their clients,” explains Mizrahi.

“We know that consistency in speed, service, reliability and fair pricing has been a driving factor in our success. It is the reason that Lone Oak has successfully funded more than $2 billion in loans to date.”

For a complete copy of the company’s news release, please contact:

Amanda Brenner or Jenn Quader
Brower, Miller & Cole
(949) 955-7940

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