Loan Per SF
Lotus arranged a $51 million land loan in just 10 days for a rare, Beverly Hills luxury condominium development project.
Our Client planned to develop 54 hotel-branded luxury condominiums and ground floor retail space on a unique site that amasses a full city block on Wilshire Boulevard in Beverly Hills. The development is located in a neighborhood that has an enormous demand for luxury condominiums, but extremely limited supply. Lotus was able to negotiate spread of LIBOR plus low-500 pricing ($422 per SF) for the financing. The Client used the proceeds from the financing to fund predevelopment costs associated with a $190 million of construction financing that Lotus subsequently arranged.