Christina Refinances West Hollywood Property

January 15, 2021

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.”

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