MALIBU, Calif.--(BUSINESS WIRE)--Christina Development Corporation (“Christina”) announced today the refinancing of a 19-unit multi-family property in West Hollywood, California. This transaction represents one of many by Christina, who has been an active player in the Westside region of Los Angeles since 1977.
Acquired in 2016 from the original developers, the building maintains a classic mid-century architectural style. The unique residences offer secure subterranean parking and have been meticulously renovated to enhance the desirability of this classic building. Residence features include custom kitchen cabinets, stainless steel appliances, custom tile bathrooms, hardwood floors, and in-unit laundry facilities. The project is steps away from Santa Monica Boulevard and the famed Sunset Strip.
The assumable $5,452,000 first trust deed loan was financed by Freddie Mac and bears interest at 2.91% (fixed until January 1, 2028). The loan provides for interest only payments until February 1, 2023 and matures on January 1, 2041.
Lawrence N. Taylor, Founder & CEO of Christina shared, “We are very pleased to further monetize an asset after 5 years of ownership, especially in this challenging environment. Christina’s real estate investment strategy and structure is simple and repeatable. Buy great, tangible real property at the right price in the best locations and enjoy the significant tax benefits during the period of ownership.”
Christina is a vertically integrated real estate sponsor and manager founded in 1977 and headquartered in Malibu, California. For more than 40 years, Christina has sponsored direct real estate investments in the Westside region of Los Angeles (Beverly Hills, Brentwood, Century City, Malibu, Santa Monica, Westwood, West Hollywood and Venice/Silicon Beach), executing a proprietary and proven strategy focused on tax-advantaged wealth preservation and long-term capital appreciation.
Christina has launched a series of private equity real estate companies that provide accredited investors across 50 states the opportunity to own tangible real properties with significant tax benefits in ultra-prime locations.
To learn more about Christina’s investment offerings, please visit us at www.christinala.com.
This release is not an offer to sell or a solicitation to purchase securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any offering by Christina will be made only in accordance with the terms and conditions set forth in the Private Placement Memorandum.