Bolour Associates Inc., a privately owned real estate investment, development and finance company, has provided a $5.7 million, 24-month loan in West Hollywood, through its affiliate, BA Debt Fund LLC (BOLOUR). The loan supports the purchase and renovation of 626 N Flores Street, a multifamily property in the heart of Los Angeles.
Located just off of La Cienga Boulevard and Melrose Avenue. The property totals 23,611 square feet and 19 units, with a mix of one and two bedrooms, and a two-bedroom penthouse with views of the Hollywood Hills. The borrower is planning renovations to vacant units.
626 N Flores St. is situated in the 90048 area of Los Angeles. Offering 1 to 3 bedroom apartments.
“BOLOUR closed on this loan in just two weeks, giving this sponsor the unique combination of funds it needs to fully – and expediently – execute its business plan,” said BOLOUR CEO Mark Bolour. “We pride ourselves on our certainty and flexibility in time-sensitive scenarios.”
David Oheb and Max Jacobson of Meridian Capital Group represented the borrower.
Bolour Associates Inc. leverages over 30 years of equity-side experience in all asset classes. The company recently rolled its debt platform into an evergreen fund structure, allowing for greater speed in closing, greater flexibility in the size and rates charged, as well as increased diversification for its investors.
Bolour Associates Inc. is an integrated real estate finance, investment and development firm that invests in value-add assets in emerging and transit-oriented neighborhoods. Property types include urban infill land, retail, industrial, multifamily and mixed-use. As a lender, BOLOUR provides borrowers with individually designed debt solutions that often feature creative loan structures and quick closings. The company is currently active in 17 states and the District of Columbia.
