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3650 REIT Originates $36M Loan for Hollywood MF Redevelopment
Miami-based 3650 REIT originated a roughly $36-million bridge loan for the acquisition and redevelopment of Hollywood Backlot Homes in North Hollywood. The 10-acre site is planned for a nearly 190-lot manufactured home community aimed at meeting demand for attainable housing in SoCal.
The loan carries a term of 30 months and is provided to sponsor Multi Opp, LLC, a JV between real estate development firms Dugally Oberfeld Capital Partners, LLC and Fabulous Five, LLC.
3650 REIT’s Jonathan Roth says “The sponsors’ vision for the Hollywood Backlot Homes aligns extremely well with the age of social distancing. Its private, detached unit configuration offers residents true separation alongside Class A multifamily features.”
Located in an Opportunity Zone at 8250 Lankershim Blvd., the master-planned community environment will provide renters with the comforts of Class A multifamily amenities, including an outdoor pool, clubhouse, gym, billiards and gaming center, dog runs, BBQ and outdoor lounging area and gated entry.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development




