Stormfield funded a $2.4M Multifamily Value-Add Loan in Los Angeles, CA

Stormfield funded a $2,427,000 multifamily value-add loan for the purchase of a 12-unit property in Los Angeles, California, together with the construction of eight accessory dwelling units on the site. The 18-month loan funds the acquisition and supports a business plan that adds rentable units to the existing property. The loan is structured at 53.98% of the $4,496,000 underwritten value. Underwriting weighed the construction scope and the local Los Angeles multifamily market, along with the business plan for the property. For brokers and borrowers, the deal shows Stormfield’s value-add financing in California.